FxWirePro- FTMUSD (Chart of the day)

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FTMUSD was one of the best performers this week.

Any weekly close above $1.25 confirms further bullishness.

FTMUSD  was the best performer and surged more than 30% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.8358 and is currently trading around $0.8151.

The bullish invalidation can happen if the pair closes below $0.50. On the lower side, the near-term support is $0.75. Any break below targets $0.56/$0.40/$0.30. significant downtrend if it breaks $0.30.

The immediate resistance stands at around $0.85. Any breach above confirms a minor pullback. A jump to $1/$1.25 is possible. A surge past $1.25 will take FTM to $1.35/$1.50/$1.68/$2.

It is good to buy on dips around $0.750 with SL around $0.56 for TP of $1.50/$2.