FxWirePro- FTMUSD (Chart of the day)

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FTMUSD was one of the best performers this week.

Any close above $1.25 confirms further bullishness.

FTMUSD surged more than 35% after a minor sell-off. The pair holds well above the short-term (34 and 55 EMA) and long-term moving average. It hit a high of $0.34893 and is currently trading around $0.4830.

The bullish invalidation can happen if the pair closes below $0.20. On the lower side, the near-term support is $0.40. Any break below targets $0.35/$0.25/$0.20.

The immediate resistance stands at around $0.5255 (200-day EMA). Any breach above confirms a minor pullback. A jump to $0.625/0.855 is possible. A surge past $0.85 will take FTM to $1.

It is good to buy on dips around $0.45 SL around $0.30 for TP of $0.85/$1.

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