European Stocks Rebound as Russia Says It Moves Some Troops Back to Base

European Stocks Rebound as Russia Says It Moves Some Troops Back to Base

FTSE 100 Trading Tips

FTSE 100 is trading up 0.69% at 7581.80

European stock markets traded higher Tuesday, rebounding on reports that Russia has returned at least some of its troops massed on the Ukrainian border to their bases.

By 3:40 AM ET (0840 GMT), the DAX in Germany traded 1.1% higher, the CAC 40 in France climbed 1.3% and the U.K.’s FTSE 100 rose 0.8%.

Global stock markets have been kept on edge on fears that a Russian invasion of Ukraine was imminent, particularly after the U.S. closed its embassy in Kyiv late Monday, with Secretary of State Antony Blinken citing the “dramatic acceleration in the buildup of Russian forces” on Ukraine’s border.

However, the news agency Interfax reported Russia’s Defense Ministry as saying that Russia will return some of its troops to their bases after completing a series of drills later this week. Joint exercises with Belarusian troops are due to continue until February 20th, according to the Ministry’s website.

The news follows a carefully-orchestrated televised exchange between Russian President Vladimir Putin and Foreign Minister Sergy Lavrov on Monday in which the two agreed to continue diplomatic negotiations with the West over the future of Ukraine.

On technical fronts FTSE 100 RSI stood at 58.32 and currently it is trading above all MA. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : FTSE 100 – BUY: 7523.00, TARGET: 7569.30, STOP LOSS : 7485.60

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