Yesterday’s bullish trading stance continued into Wednesday for both Asian and European shares with most benchmarks edging higher amid a wind of relief brought by decreasing market volatility. European stocks traded higher from London to Frankfurt, mostly driven by the continuing euphoria towards tech shares, especially after both Amazon and Alphabet topped revenue estimates yesterday. Generally speaking, optimism, fuelled by stimulus progress, the vaccine rollout, and the fading of the buying frenzy on GME and AMC, is reassuring stock investors around the world. However, by the end of the week this may change as with a busy run of major macro news including today’s EIA crude oil reports, Thursday’s BoE’s decision on rates and Friday’s US NFP.
Today’s best performance comes from Milan where the FTSE-MIB Index is trading well above 22,130pts. However, the market will have to clear strong resistance at 22,735pts to unlock upward targets at first 22,900pts and then 23,185pts.
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.