European shares ticked slightly higher on Tuesday, extending yesterday’s gains, and following positive performance registered overnight by Asian benchmarks. This change in investors’ trading stance followed surprisingly strong economic figures from the world’s two largest economies. In the meantime, coronavirus continued to spread, even triggering renewed local lockdowns in some areas like northeast China, Arizona, and the city of Leicester in the UK. However, optimistic sentiment still lingers in the markets and investors seem to prefer seeing the glass half full than half empty, qualifying occasional declines as buying opportunities more than warning signs.
Today is likely to be a busy trading session as investors await significant data like the EU’s CPI release as well as the US consumer confidence report. There is also likely to be increased volatility after the European closing bell, when the Fed Chairman and Treasury Secretary will be testifying before the House of Financial Services.
The FTSE-100 Index continues to trade close to the lower bound of its mid-term bullish channel, currently dancing near the 6,200pts zone. A clearing of the 6,240pts level would open the doors to an extended rally towards 6,270pts, 6,330pts and 6,400pts by extension.
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.