European shares traded steady on Monday following a quiet weekend. Uncertainty is weighing heavily on risky assets as investors are still digesting the latest geopolitical developments between the US and Iran, as well as Friday’s disappointing job report. Many traders are also bracing for a busy week, with much higher market volatility in sight. Important economic data across the world, the signing of the US and China’s phase-one trade deal as well as the beginning of the earning season are likely to set the pace for financial markets this week.
Investors are closely monitoring their charts as many European indices are currently trading close to strong psychological and technical resistance levels, waiting for either a break-out or a deeper market correction. So far, the Stoxx-600 Index is trading sideways with Mining shares offsetting gains in the Tech sector. The best performer is the UK’s main index, the FTSE-100 in London, which is benefitting from Sterling’s decline. The market is challenging its first available resistance towards 7,630pts where a break-out could lead prices to 7,675pts, if the pressure continues the British currency.
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.