European equities opened higher on Tuesday, following the trend started overnight in Asia after investors welcomed reassuring macro data from China and Australia. The resurgence of the bullish trading stance ended yesterday’s technical correction and put markets back on track to achieve fresh highs before the end of the year. Optimism continues in Europe with investors expecting more positive performances and betting on a brighter economic future with the end of the Covid-19 crisis potentially in sight. However, as already explained, macro data are likely to keep investors busy in the meantime, especially today with speeches from both Christine Lagarde and Jay Powell as well as the EU inflation report, one of the ECB’s key indicators, due later in the morning.
The DAX-30 Index is boosted by automakers and miners and is now trading close to its 3-month high above the 13,400pts level. A clearing of the resistance at 13,450pts could drive the market further up, towards 13,555pts and even 13,820pts.
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.