European shares had a mixed opening for the last trading session of the week following small losses in Asia overnight. Most European share markets are trading around their neutral zone as investors hesitate to extend yesterday’s gains ahead of today’s highly expected US job report. In these uncertain times, investors will hold on and switch their focus to data due out today such as US non-farm payrolls to get more clues on the damage the Covid-19 has done to the economy so far. However, it is still hard to assess what is already priced in the markets. Sharp price action and a surge in volatility are to be expected in the afternoon as many investors will be tempted to adjust their exposure following the release of US data and prior to a busy weekend.
Insurers and energy shares weigh on European markets today with the Stoxx-50 Index still drifting within the 2650pts-2,700pts range. The market remains well capped by the resistance level at 2,720pts, which is placed inside its bearish gap zone, while the price is also supported by an important technical level above 2,634pts. A break-out of one of these zones would open the doors to a much clearer directional movement.
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.