European contracts ticked higher on Tuesday, alongside US Futures and most Asian markets, despite poor Chinese data overnight. Investors are now fully back on “risk-on” trading mode as they are now pricing the end of the coronavirus crisis following yesterday’s encouraging results from a vaccine developed by Pfizer. The fact Joe Biden is now pushing Congress to reach a deal on further stimulus measures is also adding to the current market euphoria. However, the battle has not unfolded yet as investors will still face uncertainty at the end of the week with central bankers from the UK, the eurozone and the US set to meet during the ECB forum on Thursday and on Friday with finance ministers from the G20 group.
Technically speaking, most European benchmarks have cleared major resistances and unlocked further bullish potential as investors switch their exposure from defensive assets. The DAX-30 Index is still trading above 13,000pts with 13,150pts and the zone at 13,450pts the next targets.
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).
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.