European shares had a mixed opening on Wednesday with most benchmarks fluctuating, albeit on low volumes. This toneless European trading mood comes after the IMF downgraded the region’s growth outlook amid delays to the vaccine rollout in many areas, which is weighing on today’s market sentiment. In addition, most traders are also in “wait and see” mode, bracing for today’s FOMC press conference and its decision on rates. More dovish measures are widely expected to sustain and protect markets against downside risks. Moreover, tech stock traders are also anticipating increased market volatility later in the afternoon as the giants of Apple, Facebook and Tesla are all set to publish their earnings.
Meanwhile, most European benchmarks remain inside their consolidation pattern, trading above strong short-term support levels, just like a sprinter in the starting blocks. The DAX-30 Index is still trading above 13,800pts with the zone between 13,940-13,990pts the main upward target on a very short-term basis.
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.