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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. 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 instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. 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, DAX and S&P 500 all struggle to find upward momentum

Indices are trading cautiously ahead of tonight’s Fed decision.

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FTSE 100 still in tight range

The FTSE 100 continues to edge back from 7350, but dips towards 7275 have continued to find buyers; a lower high may be in place, which would be confirmed by daily moving average convergence divergence (MACD) and stochastics rolling over.

A move above 7350 would open the way to 7450 and then towards 7560. If 7275 continues to hold then the index may be able to break out of its current short-term range.

FTSE 100 chart Source: ProRealTime
FTSE 100 chart Source: ProRealTime

DAX drifts lower again

Upward momentum continues to wane for the DAX, with a possible retracement towards 12,600 underway.

Tuesday’s lows around 12,897 are likely to be tested, with intraday rallies since Monday unable to hold their ground. A rebound above 13,000 revives the more bullish view.

DAX chart Source: ProRealTime
DAX chart Source: ProRealTime

S&P 500 faces up to Fed volatility

Federal Open Market Committee (FOMC) day has arrived, with equities struggling to make headway. The S&P 500 has retreated from the high earlier in the week, with a possible retracement in the wake of tonight’s decision likely to bring 3011 and the 200-hour simple moving average (SMA) into play, or down towards the previous higher low at 2980.

A move back above 3048 carves out a new higher high and revives the current bounce.

S&P 500 chart Source: ProRealTime
S&P 500 chart Source: ProRealTime

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