European markets edged slightly higher at the beginning of the last trading session of the week, extending the trend set overnight in Tokyo, Beijing, and Hong Kong. While the recent gains on global stocks allowed benchmarks to recoup some of the losses registered last week, it did not completely offset them. The trading enthusiasm which brought strong support to markets recently has not been totally lost but was significantly tempered this week with the resurgence of old bearish drivers such as fears of a second wave of coronavirus and the simmering Sino-American tensions. In addition, transaction volumes are now decreasing substantially as we enter the summer season, which will make markets even harder to trade and predict on the short to mid-term view. Rising stocks volatility is expected today as traders brace for a quadruple witching session on the expiration of stock futures and options, which usually triggers sharp price action intraday.
The FTSE-MIB from Milan is performing strongly today with the market currently trading towards 19,500pts, slightly below the upper band of its short-term flag pattern. Prices remain, however, far from their major support and resistance respectively located towards 19,160pts and 19,725pts
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.