FxWirePro: USD/SGD hits fresh 3 – month low at 1.3635 mark, sustained close below targets 1.3580 mark
FxWirePro: FTSE100 trade higher on trade optimism, good to buy on dips
FTSE100 recovered sharply after the US Treasury Secretary positive comments on the trade deal. He has told CNBC that the US and China trade deal was almost 90% complete. US futures are trading higher and has jumped nearly 0.5% after the comment. USDJPY shown a nice recovery as demand for Safe-haven has declined. The index was trading higher for the past 2 weeks till Jun 20 and formed a temporary top around 7529. It is currently trading around 7433.
On the flip side, the index has taken support near 200- H MA at 7373 yesterday. The current 200 H MA is around 7385 and any break below will drag the index till 7360/7345. Any major weakness can be seen only below 7317 Jun 14th low.
The near term major resistance is around 7468 high made on Jun 18th 2019 and any convincing break above targets 7500/7530.
It is good to buy on dips around 7400 with SL around 7360 for the TP of 7530.