News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.Get youe #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/TF6DRVp6kX https://t.co/WEtxkdSwxD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/4wlRjBTCzK
  • The #Dollar has bottoming potential, but that is starting to lose weight as it fails to sustain any lift; next week could be a big one for #USD’s near-term outlook. Get your #currencies update from @PaulRobinsonFX here: https://t.co/IifHjik7gM https://t.co/R9b4jdTPnO
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/lW1rqjpy0x
  • I’d like to thank my followers, I just reached 5,000 which is quite a milestone for someone that isn’t a huge fan of the platform. Thank you all very much ❤️
  • Technology stocks continue to be a source of weakness for US equities, undermining risk appetite. Meanwhile, US-China tensions simmer beneath the surface creating uncertainty. Get your #equities update from @PeterHanksFX here: https://t.co/yH8oTwT3iW https://t.co/tvfrXThyaC
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/Xi9QU3ADPF
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/cQwbeZ6Feq
  • #Oil prices saw a reprieve to the recent selling pressure but remain at risk while below downtrend resistance. Here are the levels that matter on the #WTI technical chart. Get your #commodities update from @MBForex here: https://t.co/CcXsF3JCMH https://t.co/RUmS1cX52v
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/boEI8RuQdC
CAC40 Reaches Bearish Ichimoku Cloud Resistance

CAC40 Reaches Bearish Ichimoku Cloud Resistance

2015-10-20 12:10:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • The CAC40 has traded lower from Senko Span Resistance
  • Cloud Breakouts begin under 4,660.25
  • The Tenkan Line opens the CAC40 for a trend change

CAC40 Daily Chart

CAC40 Reaches Bearish Ichimoku Cloud Resistance

(Created using Trading View Charts)

Looking for more analysis on markets? Sign up for my email list here: SIGN UP HERE

Price action for the CAC40 (FRA40) has retraced back inside of its Daily Ichimoku Cloud, and has found resistance under the Senko Span B (SB) line at a price of 4,721.50. Prices have initially moved lower this morning, and are currently at a critical juncture for the index. The CAC40 is currently trading at Senko Span A (SA) which is representing short term support at a price of 4,660.25. Traders, watching for a resumption of the current down trend, will wait for prices to turn under the bearish Kumo cloud to validate a move back towards lower lows.

Traders looking for a bearish move for the CAC40 should also note that the Tenkan Line (TL) is now trading above the Kijun Line (KL). This signal is typically bullish, andl can typically be used to determine the development of a new trend. If a bullish move does continue, traders will look for prices to initally break through the cloud resistance mentioned previously. In this scenerio, further confirmation of a reversal would come with a move of the Lagging Line (CS) back above the cloud as well. Traders at this point would consider the current downtrend concluded and should consider adapting their trading to the markets new chosen direction.

Fundamental traders of the CAC40 should also watch the ecnomic calendar for Thursday’s European Central Bank rate decision. Expectations for the event are set to keep rates the same, at .05%. Even though no major changes in policy are expected, this is a high importance event and has the potential to cause volatility for the Index.

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, pleaseSIGN UP HERE

To contact Walker, email instructor@dailyfx.com.

Do you know the biggest mistake traders make? More importantly, do you know how to overcome the biggest mistake? Read page 8 of the Traits of Successful Traders Guide to find out [free registration required].

Contact and Follow Walker on Twitter @WEnglandFX.

Video Lessons || Free Forex Training

Trading Using Fibonacci (13:08)

Reading the RSI, Relative Strength Index (13:57)

Money Management Principles (31:44)

Trade Like a Professional Workshop (1:44:14)

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

DISCLOSURES