EUR/USD and FTSE 100 outlooks were the specialist subjects for Brenda Kelly, Head Analyst for London Capital Group, when she joined Nick Batsford and Zak Mir on the Tip TV Finance Show to discuss where the pair and index are heading.
EUR/USD: Squeeze higher the main play on dovish Fed action
Kelly noted that the pair are currently approaching the 200-DMA, with a more than dovish surprise within the Fed action this week possibly being the trigger to break this level. She continued that 1.12 is a magnet area for EUR/USD, and a squeeze higher is likely if the pair can close above 1.1030.
FTSE 100: 6175 or 5620?
Kelly commented that there is bullish divergence on shorter term charts, and a move through 6050 may see the index back to 6175. On the other hand, with oil and mining stocks at low levels, 5620 is a reasonable target if the index fails to recover the 6000 level. Mir added that there is nothing between 5000 and 6000 on the FTSE 100, and thus staying below 6000 for too long means we may see significant downside.
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