Today is non farm payrolls in the US so expect some action around 1.30pm.
Last night (out of trading hours) we made an attempt on 5400 which was quickly rejected. This morning if we get a failed retest at this level (a move just below 5400 which is quickly rejected) this could be a sell signal. From here I am looking at a correction to 5280-5300 before heading higher to 5450-60. However with non farm payrolls you never know quite how the market is going to take the news and if its positive we could just climb to 5450 in one go. There fore the trading instrument which I always use on this day is the FTSE Tunnel Binary. You benefit if the market goes up or down. We just need volatility and the volatility should come with the news release.
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