FTSE 100, DAX 40 and S&P 500 Extend Rallies

​​​FTSE 100, DAX 40 and S&P 500 extend rallies amid entrenched rate cut expectations.​​

Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....expectations on both sides of the Atlantic remain firmly entrenched. The late July and early August high at 8,404 is being eyed, now that the 8,278-to-8,314 late June to mid-July highs have been bettered.

​Minor support below Wednesday’s high at 8,313 can be seen along the 55-day simple moving average at 8,215.’s recovery from last week's 17,021 low has accelerated to the upside, following solid US retail sales data which pushes recession fears aside. The 55-day simple moving average at 18,250 acts as minor resistance but a rise above it would engage the July-to-August resistance line at 18,392. Further up sits the 18,580 pre-sell-off high.

​The breached July-to-August downtrend line and 55-day simple moving average at 5,469-to-5,462 are now expected to act as support, were they to be revisited.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits.

We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.

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