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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

​FTSE 100, S&P 500 and NASDAQ 100 technical levels ahead of US NFPs​

​​​Which FTSE 100, S&P 500 and NASDAQ 100 key technical levels to watch out for ahead of US NFPs.​​

FTSE 100 chart Source: Adobe images

​​​FTSE 100 likely to end week in the red

​The FTSE 100 index plunged to a two-week low around its 55-day moving average at 8,238, as traders await all-important US non-farm payrolls (NFPs).

​Failure at Wednesday’s 8,205 low would engage the May-July lows at 8,138 to 8,056.

​Minor resistance sits around Thursday’s high at 8,285, a rise above which would put the late June to mid-July highs at 8,278 to 8,314 back on the cards.

FTSE 100 chart Source: IT-Finance.com
FTSE 100 chart Source: IT-Finance.com

​S&P 500 await US NFPs

​The S&P 500 continues to oscillate around its 55-day moving average (SMA) at 5,510 in little volatility ahead of Friday’s all important US NFPs.

​Potential downside targets are the late July lows at 5,396 to 5,392, ahead of the 5,343 May peak.

​Resistance is seen at the 22 and 28 August lows at 5,545 to 5,562. Were a rise above this area to unfold, the early August peak at 5,564 would be back in the picture, ahead of its July all-time high at 5,669.

S&P 500 chart Source: IT-Finance.com
S&P 500 chart Source: IT-Finance.com

​NASDAQ 100 under pressure ahead of US NFPs

​The NASDAQ 100's drop to a two-week low at 18,759 may accelerate post NFPs and take the index back down towards the 200-day SMA at 18,237.

​Only a bullish reversal, rise and daily chart close above Thursday’s 19,108 high would have at least short-term bullish connotations and could take the NASDAQ 100 towards its 55-day SMA at 19,455 and the July-to-September downtrend line at 19,640.

NASDAQ 100 chart Source: IT-Finance.com
NASDAQ 100 chart Source: IT-Finance.com

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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