The main German index is registering one of the worst performances of the euro zone this Thursday, with all sectors drifting lower. The short-term bull trend is now clearly threatened as prices are currently challenging their bullish trendline above the 13,050.0pts support level. A break-out of the strong technical and psychological 13,000.0pts zone could unlock a further bearish potential towards 12,785.0pts while a rebound over 13,050.0pts could push prices back to 13,165.0pts / 13,280.0pts by extension.
Thyssenkrupp AG is one of the top movers this morning after the company announced the expansion of its restructuring process. Investors are fleeing the market after the company suspended dividend payment and warned of deeper losses to be expected for 2019/2020. Elsewhere, Bayer AG and Infineon are also registering volatile moves as car makers, auto parts suppliers, miners, chemical stocks and manufacturers continue to react to the back-and-forth in the US-China trade talks so further corrections may be expected today.
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.