Shares in Europe traded in a mixed pattern on Monday as market sentiment becomes more nuanced. The risk appetite remains, especially after last Friday’s US NFP topped estimates and sparked hopes of a quick recovery in the second half of the year. Demand is rising in almost all sectors and countries around the world continue to ease lockdown while the spread of virus slows. Without any significant bearish leverage in sight, there is a high chance that investors chose to take a bit of profit following last week’s solid +300pts rally on the Stoxx-50 Index and ahead of another busy week. Nonetheless, last week’s much better-than-expected US jobs report may have pushed some investors to price a less dovish tone from the Fed’s upcoming meeting on Wednesday, which could lead to less directional markets this week.
The Stoxx-50 Index is currently making a corrective move below 3,385pts, the upper band of its mid-term bullish channel. Even if 3,285pts and 3,225pts remain the major supports to prices, another one could form today from the 13-period moving average above 3,320pts.
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.