FTSE for FRIDAY and GBP vs Ruble 11/09/2020

#DOW #Nasdaq #Gold Our world famous “FTSE for FRIDAY” continues to attract surprising viewers. Currently Russia ranks as #5 in our Top Ten visitor sources, thus deserving an attempt to reciprocate the interest.  Thankfully Reunion Island in the Indian Ocean also remains a regular attendee in our Friday traffic sources, a travel ambition which shall doubtless remain unfilled (travel insurance issues).

 

For a while, it was looking like UK Sterling intended strengthen quite firmly against the Ruble. Presently trading around the 96 level, the pairing needed only exceed 101 to trigger movement to an initial 104 with secondary, if exceeded, at a longer term 109. Perhaps of greater importance, this would place the relationship in a position where a long term 114 becomes believable, challenging the all time highs of 4 years ago.

Needless to say, anything involving Sterling at present is fraught with danger, doubtless due to the UK’s increased efforts to confirm its reputation as unreliable and unsafe, internationally. This has created the situation where weakness on GBPRUB below 94 risks provoking reversal to an initial 89, something which makes visual sense. We’re less confident about our secondary calculation, down at 79.

Hey, chart goes here

 

FTSE for FRIDAY Despite some recent gains in the UK market, it’s not in a happy place thanks to the FTSE doing everything to signal it intends bottom around the 5,600 level. Everything, that is, except actually drop to the target level. The index does require above 6,200 points to escape this immediate danger and we suspect, while the threat remains, short positions shall continue to outperform whereas long positions shall continue to fall short of targets.

No-one ever said the market is a simple place but we feel it wise to tailor expectations in accordance with the markets mood. Grimly holding on for a Long target level to appear risks disappointment, if the index changes direction before reaching whatever ambition was in place.

The immediate situation suggests strength above 6,034 points should make an attempt at an initial 6,103 points. If bettered, our secondary calculates at 6,211 points and an attempt against the Blue trend line on the chart below.

If mischief is planned, the FTSE needs dribble below 5,942 points as this looks capable of triggering reversals to an initial 5,891 points. If broken, our secondary works out at 5,822 points.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:21:54PM BRENT 40.03 39.48 39.26 41.42 41.42 42.345 40
10:29:27PM GOLD 1946.37 1941 1934 1952 1967 1973.5 1947 Success
10:30:58PM FTSE 5967.1 5946 5920 5984 6030 6055.5 5980
10:33:56PM FRANCE 4977 4977 4942 5015 5074 5104.5 5021 Shambles
10:35:48PM GERMANY 13125 13092 13027.5 13191 13227 13240.5 13119
10:37:28PM US500 3341.47 3329 3313.5 3381 3409 3428 3350
10:42:13PM DOW 27556.1 27453 27304 27778 27903 28042.5 27704
10:44:12PM NASDAQ 11184 11086 10990.5 11245 11506 11590 11318
10:48:27PM JAPAN 23082 23032 22986 23130 23256 23297.5 23108 Shambles

 

 

10/09/2020 FTSE Closed at 6003 points. Change of -0.15%. Total value traded through LSE was: £ 3,837,937,083 a change of -13.67%
9/09/2020 FTSE Closed at 6012 points. Change of 1.38%. Total value traded through LSE was: £ 4,445,872,932 a change of -0.63%
8/09/2020 FTSE Closed at 5930 points. Change of -0.12%. Total value traded through LSE was: £ 4,474,047,176 a change of 45.17%
7/09/2020 FTSE Closed at 5937 points. Change of 2.38%. Total value traded through LSE was: £ 3,081,866,920 a change of -35.14%
4/09/2020 FTSE Closed at 5799 points. Change of -0.87%. Total value traded through LSE was: £ 4,751,494,897 a change of 11.8%
3/09/2020 FTSE Closed at 5850 points. Change of -1.52%. Total value traded through LSE was: £ 4,250,184,579 a change of -2.94%
2/09/2020 FTSE Closed at 5940 points. Change of -100%. Total value traded through LSE was: £ 4,378,771,754 a change of 0%

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