FTSE 100 - Bullish, but risk: reward isn’t attractive [Video]

FXSweep Team FXStreet

Initiating fresh longs at record high levels is challenging, given the recent low is at least 300 points away. That makes the risk: reward ratio quite unattractive. Nevertheless, one may participate in the bull market rally by identifying stops (support levels) on 30-min chart. More in today’s FXSweep video with inputs from Alejandro Zambrano, Chief Market Strategist at LondiniumFX, and Zak Mir, Technical Analyst, Tip TV.

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FXSweep Team

FXStreet

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold recovers swiftly from weekly low, climbs back closer to $5,000 ahead of US CPI

Gold regains positive traction during the Asian session on Friday and recovers a part of the previous day's heavy losses to the $4,878-4,877 region, or the weekly low. The commodity has now moved back closer to the $5,000 psychological mark as traders keenly await the release of the US consumer inflation figures for more cues about the Federal Reserve's policy path.