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Euro, DAX 30 Outlook with Brexit & Technical Analysis Tips | Podcast

Euro, DAX 30 Outlook with Brexit & Technical Analysis Tips | Podcast


Talking points on this podcast:

  • What has been the impact of coronavirus on the Eurozone economy to this point?
  • How will Brexit impact the Euro in the long term?
  • Bouhmidi Bands, Bollinger Bands and technical approaches

This time on Trading Global Markets Decoded, our host Martin Essex is joined by Salah-Eddine Bouhmidi, head of markets at DailyFX’s parent company IG in Germany, from where he also covers the Netherlands, Austria and Switzerland.

Salah Eddine’s short-term trades are based principally on technical analysis but he is also an economist, specializing in capital market theory and quantitative methods. He looks too at market psychology and uses statistical modeling to determine his trading strategies.

In this episode we focus on the impact of coronavirus on the Eurozone, examine Brexit’s influence on the price of the Euro, and give insight into Salah-Eddine’s Bouhmidi Bands technical tool. You can listen to this podcast by clicking on the YouTube link above or by using one of the alternative platforms listed below.

The impact of coronavirus on the eurozone

First up is the topic of how the pandemic is likely to affect the Eurozone. “We have more uncertainty worldwide but that uncertainty is actually driving the Euro right now,” Salah-Eddine says. “We see Covid weakening USD which is pushing the Euro. On the other hand fundamentally it will harm the export and economic activity if the Euro stays bullish.”

Brexit and the euro

Will Brexit have an impact on the Euro? “Oh yes. As [the UK and Eurozone] are neighbors, currency will be affected heavily. Just one example, Unilever, a huge consumer company, will move headquarters totally to the UK, and my argument for that is that they think we will see appreciation of the Euro against the Pound which can [benefit exports from the UK].

“The Euro in the long term could appreciate much more against GBP.”

Dax 30

How about the German DAX 30? Salah-Eddine believes the currency has huge potential compared to the US markets. “We are in a really low interest environment, and this is something that will last for maybe a decade. This will drive stock markets widely and especially the German stock market, which is still a bit underperforming against major competitors.

“The trend is still bullish and I [expect] the DAX 30 to get new all-time highs.”

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.