FTSE 100 Forecast: Hovering Around 50-Day EMA stocks Forex
That being said, the market is likely to see the 50-day EMA offer a bit of interest, as we have offered support during the day at that level. We closed at the 7410 level, and that does suggest that perhaps we have further to go to the upside over the longer term.
If we do break down, it is really not until we get below the 7100 level that I would begi n to worry about the FTSE 100. After all, the British pound has been weakening lately, so it does give the idea of exports being cheaper for foreigners as a bit of a tailwind as well. Remember, that is a huge driver of where markets can go when it comes to, and that is not any different if it is New York or London.
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