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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
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
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Mayor of Los Angeles orders a stay-at-home order amid rising Covid cases $DXY $SPX
  • The dispute between the Federal Reserve and the Treasury Department concerned economists and government officials last week. Traders, however, appeared unfazed as U.S. equity markets proceeded to higher ground. Get your market update from @FxWestwater here:https://t.co/DKK7WWHKlu https://t.co/K1f9Y1h4sn
  • China official urges preparation for Covid vaccine production - Xinhua via BBG
  • Over the past seven days, $EUR has been the best performing G10 major vs the #USD with a 1.66% spot return while $GBP has been the worst at -0.11% spot return $EURUSD $GBPUSD $DXY
  • The US Dollar (via the DXY Index) has hit fresh lows amid the latest headlines around US fiscal stimulus talks. Get your market update from @CVecchioFX here:https://t.co/yDXdpZIcxq https://t.co/GlSrdNjEeZ
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Gold: 0.22% Oil - US Crude: 0.14% Silver: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WR0TUUbAnB
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.12% 🇨🇭CHF: 0.09% 🇪🇺EUR: 0.08% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.03% 🇳🇿NZD: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/mgBg1eesms
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.68%, while traders in EUR/USD are at opposite extremes with 73.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZyugXjE2ov
  • The British Pound is eyeing a push to fresh yearly highs against the US Dollar. However, various technical setups suggest GBP could lose ground to JPY, EUR and NZD in the near term. Get your $GBP market update from @DanielGMoss here:https://t.co/NSUnZnxAdi https://t.co/Ounuyh073c
  • The Dow Jones index appears to be ranging between 22,920 to 30,000 over the past few weeks. The overall trend remains bullish biased, but its upward momentum is fading as Bollinger Band width narrows. A decisive break above 30,000 resistance may open the door for further upside. https://t.co/pvWoVloiZV
French Stocks Rebound to Daily Resistance

French Stocks Rebound to Daily Resistance

2015-11-19 14:20:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • CAC40 finds resistance under 4,961
  • Price above 4,919 provides retracement opportunities
  • A breakout below 4,900 would signal a shift in the trend

CAC40 30 minute

French Stocks Rebound to Daily Resistance

(Created using TradingView Charts)

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

European Stocks and the CAC40 (FRA40) Index have remained resilient this week, after initial fears caused the benchmark to decline from Friday’s attack on Paris. With prices rebounding this week, longer term trend traders will continue to monitor the psychological 5,000 point mark for a resumption of the CAC40’s uptrend. Conversely, day traders have targeted intraday resistance at today’s R3 Camarilla pivot point at a price of 4,961. Currently prices are retracing off of these values towards key values of support and suggests that a retracement may be in play for the Index.

Range support for today can be found at S3 pivot point at a price of 4,919. If prices remain above this value, it can provide day traders an opportunity to join this week’s short-term uptrend. Traders looking for bullish momentum should also monitor the R4 pivot point at 4,981. A move to this point would be significant as it would be the second bullish breakout so far this week, and prices would again be attempting to challenge the current monthly high at 5,011. Traders extrapolating a 1-x extension of today’s 42-point range, over the R4 pivot, can set initial bullish targets near a price of 5,024.

Alternatively, if French stocks begin to selloff, and the CAC40 drops below the previously mentioned point of support, it may lead to future declines for the Index. Final pivot support is found today at the S4 pivot point at a price of 4,900. A drop below this point would represent a conclusion of the previously sited bullish momentum. At this point, day traders may choose to trade a decline towards lower lows. Using a 1-x extension of today’s range, breakout traders may begin to target a price of 4,858 on a breakout toward lower lows.

See Walker’s most recent articles at his Bio Page.

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

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

DISCLOSURES