Stocks opened higher everywhere in Europe on Tuesday, extending the gains at the end of yesterday’s trading session by US equities. This change in sentiment was triggered by investors noticing good signs on the virus front from California, ahead of the reopening of the state next Friday. Spain, France and Hong Kong are among the latest areas to be easing lockdown measures soon, with investors eagerly awaiting the impact these changes have in turning around the existing economic data that is already outdated. Traders are likely to retain a defensive trading stance on riskier assets before more clues emerge on how economies are coping with opening back up again. In the meantime, the earning season continues today with Q1 results expected from large caps like BNP Paribas and BMW. In addition, investors will also be interested to see how the travel and leisure sector has been impacted with results from Walt Disney and Air-France KLM due later today.
The DAX-30 is one of the top movers in Europe today, trading just below 10,700pts. The market is challenging the upper band of its bullish channel in an attempt to fill the bearish gap left open at the beginning of the week. Upcoming targets are at 10,740pts (38.2% Fibonacci) and 10,855pts (50% Fibonacci).
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.