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    Asian equities could take a boost after strong gains seen on US equities

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    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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Consolidation phase continuing ahead of tomorrow’s Fed meeting

Pierre Veyret by Pierre Veyret
June 9, 2020
in Economy, Markets, Opinion, World
Reading Time: 2 mins read
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Consolidation phase continuing ahead of tomorrow’s Fed meeting

Photo by Tobias Rehbein.

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European shares were little changed on Tuesday with this week’s consolidation phase continuing ahead of tomorrow’s Fed meeting. Even if the strong bullish pace on equity markets slowed significantly this week, the lack of sharp downside corrections prevents the current trend from being really threatened. This lateral tone in the very short-term is more seen as the mark of a market pause than a sign of hesitation from traders. Of course, most investors will need further evidence of a quick recovery before increasing their exposure and driving prices to fresh highs. However, the current technical configuration tells us there is a certain degree of market confidence towards improving economic condition on a short to mid-term prospective, which currently keeps on sustaining prices.

The worst performing index this morning is Frankfurt’s DAX-30 Index, which is now trading below 12,700pts. Technically speaking the market is still trading inside the bullish channel that has been in place since early May so the short to mid-term trend remains bullish. However, the recent failure below 12,925pts could lead prices to a limited correction towards 12,560pts and 12,350pts by extension. Both moving averages are still rising, and the RSI indicator is not showing any sign of a trend invalidation yet, making the current bullish trend invalidation very unlikely today.

Tags: DAX-30Stoxx-50
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Pierre Veyret

Pierre Veyret

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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