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The levels to watch after a turbulent week

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It has been a turbulent week on the markets to say the least, but things seem to be looking up; European markets climbed after a week of volatile trading and the S&P 500 was up 0.13% during early trading on Friday.

FX Expert Kathleen Brooks explains that the bounce has been fueled by reassuring words from central bankers. She says the FTSE 100 in particular has had a powerful reversal, and thinks we could get back to the 6400 level, even perhaps 6450.

However, when it comes to the euro, Kathleen thinks the recovery is short term. She reminds us that EURUSD has fallen from 1.40 to 1.25 in the past few months and expects a move towards 1.25 soon.

This week's market turmoil was triggered by fears about global growth prospects and anxiety over the spread of the Ebola virus. What's more, markets took fright over the possible return to recession in the eurozone, a floundering economy in Japan and a slowing China.