The DAX-30 index continues the corrective move started yesterday with prices still moving slowly above the 12,890pts support level.
The health care sector stays on top of the board today with Bayer and Fresenius among the best performers. Today’s top movers include Deutsche Bank after the company published Q3 revenue falling to €560m from €608m in Q2. The market broke through the 7EUR support shortly after the results and now trades below 6.8EUR. Investors have been slightly afraid after the company said increasing revenue wasn’t such an easy thing in a low interest environment, which is leading to margin compression of the whole industry. Volkswagen can also be qualified as a top mover this morning after its share price climbed above 178.00 EUR following a strong Q3 report. However, prices went down almost immediately after the company also lowered its outlook for vehicle deliveries this year following a slump in car sales in China.
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.