A raft of bullish factors saw European Stocks open significantly higher, following the tone set by Asian markets overnight, and with US Futures also pointing to a firmer open, trading optimism has rarely been this high. The party goes on for stock traders after the ECB surprised investors by announcing a higher than expected top-up to its rescue plan, boosting confidence in stock markets and sending prices to new highs. This sentiment is also being shared by US stock investors after Washington also unveiled an unprecedented USD 1 trillion plan to fight the pandemic effect. Meanwhile, existing bearish leverages vanished after pandemic easing continued to pile up in many different regions, while investors also cheered the latest softer tone in US-Sino relationship, allowing the current euphoria to continue further. The main market mover remains the US Job report today with investors expecting a significant increase which could drive prices even higher, close to their pre-crisis level ahead of the weekend.
The Spanish IBEX-35 index has registered the best performance in Europe so far, after the market successfully cleared the 7,500 Pts level (38.2% Fibonacci) following the exit of the horizontal consolidation phase seen recently. Prices will now head towards the next major technical resistance at 8,000 Pts, with 7,650. Pts the first support level.
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.