European benchmarks edged slightly higher on Wednesday, paring some of yesterday’s losses, as investors have now digested the fact the vaccine could be delayed. However, bearish leverages remain on stocks with investors struggling to assess if the current correction is just a market pause for breath or if it is a harbinger of something larger and deeper. All eyes are now on tomorrow’s ECB meeting in Europe. While Christine Lagarde is expected to hold rates, many bull traders also think the ECB will bring further support measures in order to mitigate the current downside risk, which would provide another fresh boost to equity markets. On the other hand, no further stimulus from the ECB could seriously disappoint investors and impact market sentiment on the short to mid-term basis and lead to a deeper correction.
In the meantime, the situation on UK stocks is starting to get interesting for Bull traders as the ongoing Brexit talks keep putting pressure on the Sterling, which in turn is having a bullish effect on the FTSE-100 Index. The market is challenging resistance at 6,000pts and could quickly head to 6,035pts and 6,095pts if a clearing of this zone were to happen today.
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.