Stocks opened significantly higher in Europe this Wednesday, validating some key technical support levels, while Asian markets closed on a mixed tone and US Futures remained steady. The global sentiment towards riskier assets remains uncertain for the end of September and is the reason for the current lack of market directionality as well as the neutral mid-term trends over European assets.
While most European indices remain neutral to bullish and haven’t broken any significant support levels so far, the FTSE-100 Index in London remains deeply impacted by both Brexit and the prospect of another lockdown, especially after the UK Government said this option couldn’t be ruled-out. Even if the market is trading 1.3% higher today, boosted by healthcare and tech stocks, prices have already retraced 38.2% of the bullish trend registered between March and June. Now traders fear demand could soon drop in the energy and travel & leisure sectors before year-end if further restriction measures are implemented.
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.