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
Bullish
Oil - US Crude
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
Wall Street
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
Gold
Mixed
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/p9Pkkbo2zf
  • The docket thins out over the coming week, but there are a few serious market highlights that can make for some interesting opportunities in the week ahead. $GBPUSD has the technical chops and fundamental confluence (US CPI, UK GDP, etc) https://www.dailyfx.com/forex/video/daily_news_report/2021/05/08/Dollar-Tumbles-Dow-Hits-Record-Highs-and-Dogecoin-Traders-Tune-In.html https://t.co/BMUQ0xVOge
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfIZNKr https://t.co/nBfJcptUDK
  • Dogecoin continues to trade higher with explosive energy, attesting to the cryptocurrency's new clout. Meanwhile, Bitcoin and Ethereum sink. Get your market update from @FxWestwater here:https://t.co/ohw714KqB2 https://t.co/EWxKoQykv1
  • Natural gas prices moved higher, capturing a long-term trendline that could support the heating commodity's price in the coming weeks as colder temps support fundamental side. Get your market update from @FxWestwater here:https://t.co/tGUDJE9hn0 https://t.co/nROsrJa1sv
  • The Euro may fall against the US Dollar amid a historically strong month for the Greenback and relative bond yield spreads. EUR/USD appears to be eyeing bearish technical warning signs. Get your $EURUSD market update from @ddubrovskyFX here:https://t.co/njTDk8Ehoi https://t.co/w4II63utz1
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:https://t.co/6Nvvmz8h6d https://t.co/TYsfOXHrro
  • (Weekly Fundamental) Australian Dollar Outlook: AUD/USD May Rise on Dovish Fed Speak After Huge NFP Miss #AUD $AUDUSD https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/05/07/Australian-Dollar-Outlook-AUDUSD-May-Rise-on-Dovish-Fed-Speak-After-Huge-NFP-Miss.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/L9pERwjTqh
  • Bitcoin is struggling to extend April’s bounce while Ethereum and Litecoin are exhibiting signs of momentum exhaustion. What are key technical levels to watch for ahead? Find out from @ddubrovskyFX here:https://t.co/PnZId4xOh2 https://t.co/ZTYoxdBxLl
  • The Indian Rupee has been rising despite a surge in local Covid cases, owing to rising yields amid a temporary flood of US Dollars into the banking system. INR remains at risk, eyeing CPI data. Get your market update from @ddubrovskyFX here:https://t.co/6r7hahVtx4 https://t.co/a0z46Q0Mn4
DAX 30 & CAC 40 Price Outlook: Euro Unity Bolsters Regional Equities

DAX 30 & CAC 40 Price Outlook: Euro Unity Bolsters Regional Equities

Peter Hanks, Strategist

DAX 30 & CAC 40 Forecast:

DAX 30 & CAC 40 Price Outlook: Euro Unity Bolsters Regional Equities

Commitment to the single-currency Euro project was reaffirmed this week as France and Germany have come forth with a proposal for an emergency fund, backed by EU-issued debt. The development should significantly soothe fears of EU disintegration and EUR/USD, among other Euro currency pairs, has rallied on the back of the announcement. Not to be outdone, the German DAX 30 and French CAC 40 also pressed higher, likely feeding off the newfound confidence in the currency union. Despite the gains, key technical hurdles lie ahead for both indices.

DAX 30 Technical Outlook

In the case of the DAX 30, an essentially unabated climb off support has propelled the index through range resistance at 10,900 and may allow for subsequent probing of April’s peak around 11,348. In the favor of bulls, prior horizontal resistance may now act as support and could ward off bearish attempts lower while making quick attacks higher more feasible.

DAX 30 Price Chart: 4 – Hour Time Frame (February 2020 – May 2020)

DAX 30 price chart

Should prior highs fail to keep the DAX contained, the Fibonacci level at 11,592 may act as secondary resistance. Either way, the bullish break above the range is an encouraging sign for further DAX 30 gains and if bulls can maintain price above the level, subsequent tests may bolster the influence of the newfound support. In the meantime, follow @PeterHanksFX on Twitter for updates and analysis.

CAC 40 Technical Outlook

Shifting focus to the French CAC 40, similar price action can be observed with an arguably opaquer technical backdrop. Seemingly in the confines of a larger range, the index has encountered overhead resistance around 4,516 numerous times and suffered a string of failures. The level neatly coincides with the 38.2% Fibonacci retracement from the index’s February peak to March low and has expressed noteworthy price influence.

CAC 40 Price Chart: 4 – Hour Time Frame (February 2020 – May 2020)

CAC 40 price forecast

With that in mind, bulls will have to surpass the level before they can attack secondary and tertiary resistance that might be offered by the longstanding Fib level and the index’s apex in April near 4,666 and 4,756 respectively. On the other hand, confluent support around 4,138 should look to provide support in the event of a larger sell off.

With the recent cooperation among European Union members and the governing body itself, regional equities may enjoy newfound stability as warnings of Euro disintegration cool.

--Written by Peter Hanks, Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

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

DISCLOSURES