European shares edged higher alongside US futures on Tuesday following a solid recovery overnight by Asian markets. Today’s market sentiment is being boosted as investors seem to welcome the set of measures by the Chinese government to sustain economic growth, as the negative impact of the coronavirus remains hard to gauge. Investors’ risk-on trading mood has also been triggered by the last words from the Office of the US Trade Representative who said President Trump could provide China with some flexibility regarding the Phase One trade deal if the numbers are going in the right direction, which would reduce the virus’ impact on the relationship between the world’s two largest economies.
All benchmarks are trading higher in Europe with the DAX-30 as well as the FTSE-100 indices the best performers so far. London’s main index continues to benefit from Sterling’s decline and is now trading close to its first major resistance, located at 7,440pts below its 55-period exponential moving average, following its break-out of the short-term bearish channel. New targets could be found near 7,460pts and 7,515pts if prices manage to clear 7,440pts.
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.