European stock indices opened significantly higher on Tuesday after Washington reassured investors on the state of the US’ relationship with China with President Trump stating the trade deal signed with Beijing in January was still “intact”. These few words were enough to offset recent uncertainty surrounding risk assets, reviving market sentiment, and driving prices higher. The general mood remains positive so far with most investors continuing to expect higher highs this year, with 2019 levels in sight amid expectations of a V-shaped recovery. Having said that, it will certainly take a bit of time for some businesses to return to being profitable as businesses adapt their models to this new work-from-home economy. This structural change is likely to create different opportunities for stock traders in the near future.
The DAX-30 is the eurozone’s top performer today with the index trading above its recent consolidation zone, near 12,500pts. An extended bullish move towards 12,730pts and 12,925pts could take place soon if it clears resistance at 12,540pts.
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.