Shares mainly opened higher on Wednesday ahead of what is expected to be a very busy day for investors despite an uncertain mood following mixed earnings yesterday. Today’s market sentiment is likely to be shaken as traders struggle to find any fresh bullish drivers to the current rally amid a slew of major US economic data due this afternoon (Q1 GDP, Pending Home Sales and FOMC meeting). In addition to the macro environment, stock investors will also keep an eye on corporate results with big names like Airbus, Boeing, Facebook and Tesla all reporting today.
The FTSE-100 is the best performing European index so far with the price driven up by the real estate and communication & services sectors. The market continues to register fresh highs and is currently trading above 6,000pts having cleared a notable zone when it climbed above 5,895pts. The moving averages are showing an upside reversal while the RSI indicator returned to its buy zone, climbing above 50%. The next target is 6,235pts which will constitute a 50% retracement of the entire bearish move that began at the beginning of this year.
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.