European markets will open at lower levels today, following the negative sentiment from the Asian session. The political uncertainty caused by the policies of Trump and the upcoming elections in France and Germany remains and this is negative for risk appetite.
France's CAC is expected to open 5 points decrease in price 4770, the German DAX will open at 11494 levels 16 points lower and London FTSE by 3 points decrease in price 7176, according to IG markets.
Since the beginning of the week the yen and gold trade increases, indicating that investors flock to safe havens. This will keep us alert to possible short positions on European indexes. Technical DAX index in forming H & S and break below horizontal support levels of 11480 will give grounds for sell. The situation is similar at CAC by H & S is enabled and tested.
London's FTSE (UKX) is not likely to suffer major losses, as many of the companies in the index have a greater exposure to oil and the price of black gold remains bullish territory and this will influence positively.
Trader Nikolay Georgiev
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