Stocks in Europe edged higher shortly after the market open, after little gains were registered almost everywhere Asia overnight, at the end of a week characterised by high uncertainty and low volatility. Poor data and difficult discussions on trade between Washington and Beijing are obscuring the visibility on markets. The most recent events haven’t helped, as President Trump said that any deal with China “must be on U.S. terms” while Beijing qualified the last round of U.S. tariffs as a “violation of accords” previously reached between the two blocs. Ahead of J.Powell’s intervention at the annual Jackson Hole meeting, traders now bet on more central bank loosening aimed at sustaining the economy and prevent a global recession.
At the moment stock markets are edging higher everywhere in Europe, with the Stoxx-50 index trading well above 3,290.0pts while the DAX-30 got back above the 11,500.0pts zone. However, the German index will face a strong technical resistance level at 11,540.0pts where a clearing could lead to higher tops, towards 11,615.0pts and 11,700.0pts by extension.
While a student, Pierre Veyret had a passion for the financial markets. At the time, he studied International Trade through the setting up of import / export operations and it was the techniques of hedging against exchange rate risks that helped him to make the link with the financial markets, and all especially that of Forex. It is therefore with the aim of anticipating the price of currencies several months in advance that Pierre quickly turned to different methods of analysis by drawing inspiration and surrounding himself with experts in the field. Shortly after, Pierre decided to specialize in Technical Analysis, a discipline he had the opportunity to practice with real market professionals, thanks to AFATE / IFTA, an association of which he has been an active member for several years. Pierre Veyret is passionate about the field of the financial industry with a particular interest in the various techniques of stock market forecasting. Currently, Pierre is based in the City of London where he works as Chief Analyst. He performs regular interventions on a multitude of asset classes through various media (television, internet and print media).
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© 2019 High Leverage FX - All Rights Reserved.