Thursday, April 29,
2021 / 05:54 PM / Sponsored Post by Sacred Father / Header Image
Credit: Forex News
Decades ago, London used to be the financial center of the world. Although that's not the case anymore, the London Stock Exchange is an integral and important part of the global corporate landscape, and it has its index - FTSE100 (or UK100 as it is denoted in FBS Trader).
What is it?
FTSE100, or Footsie, is the London Stock Exchange index like Nasdaq, S&P 500, Nikkei, and others. The public companies of the highest capitalization listed on the London Stock Exchange are the constituent elements of this index.
What makes it different?
Over the last three decades, the area above 7000 has proved to be the zone of high resistance for FTSE100. Only once it went beyond reaching the ranges of 7500 and consequently bounced downwards. Currently, as it trades around 6900, it is approaching that resistance area again. From this perspective, FTSE100 is going through a historic period that may see it finally break the previously impenetrable resistance area and eventually make a new all-time high above 7500 - if there are no major bumps on the road of the British recovery.
Where to find it
In Metatrader, go to the CFD Futures section and choose UK100/FTSE 100 Index. In FBS Trader, open the Indices tab and choose UK100/FTSE 100.
How to trade it
A trader would need to have a special interest in the British corporate environment to understand what moves this index. To a certain extent, it resembles the behavior of the S&P 500 and European indices (also available in FBS Trader) because the UK economy is tightly connected to the US and Europe and is subject to similar impact factors. At the same time, it has distinctive features, and the index chart will show. Practically, it is not difficult to make a fundamental analysis of the British market sentiment as most media channels pay a lot of attention to the UK at any time.