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. See our updated Privacy Policy here.

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
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
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCrRwD https://t.co/7w5jodyzj0
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/L3LPCph2ST
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/ysxKO30ZWw
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/5nHxtlZ7nn
  • 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/IsnpfJhp91 https://t.co/lqpXwWjVFt
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/CrpXuYgfRO
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/VzEbQn8blk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/ETF52Q2sLz
  • 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/c51s3IBcEu https://t.co/AXZxK8Abrh
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/9Ppa4d48Ql
DAX 30, CAC 40 & FTSE 100 Forecasts for the Week Ahead

DAX 30, CAC 40 & FTSE 100 Forecasts for the Week Ahead

Peter Hanks, Strategist

DAX 30, CAC 40 & FTSE 100 Price Outlook:

DAX 30, CAC 40 & FTSE 100 Forecasts for the Week Ahead

European indices have had a rather modest week thus far, failing to exhibit the same signs of exuberance that some Nasdaq 100 constituents have shown. Similarly, the call for a bull market from Chinese President Xi Jinping sparked a parabolic climb in the Shanghai Composite another rally from which the DAX 30, CAC 40 and FTSE 100 were absent.

In the meantime, the three European equity markets have consolidated further, succumbing to relatively tepid price action. In the event of a reversal, however, the reserved nature of the European indices may serve to provide relative stability compared to the indices on the forefront of speculative appetite like the Nasdaq 100.

DAX 30 Technical Forecast

While investors dance between fundamental themes, price reveals nearby technical levels that may provide influence. The nearby 13,000 level is an area overhead that may provide resistance in the event of a bullish continuation higher as it coincides with the swing-high from early June.

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

DAX 30 price chart

On the other hand, the rising trendline from March may provide a modicum of support alongside the Fibonacci level at 12,448. Together, they will look to keep the DAX above the recent lows near 12,000. A break beneath 12,000 could allow bears to attack the June swing low which, if broken, could allow losses to accelerate. In the meantime, follow @PeterHanksFX on Twitter for updates and analysis.

CAC 40 Technical Forecast

The CAC 40 finds itself in a similar situation as it gyrates between two horizontal barriers. Resistance likely resides from 5,130 to 5,220 and support is in place around 4,650. Without a catalyst and hesitant to ride on the coat tails of the Nasdaq or Shanghai Composite, it seems the French equity index could be rangebound for the foreseeable future. Still, weeks of consolidation may insulate it from catastrophic losses in the event of a pullback as it has much less ground to lose relative to the March lows.

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

CAC 40 price chart

FTSE 100 Technical Forecast

Moving across the Channel, FTSE 100 price action reveals the undeniably lackluster performance of the equity index. Having made little progress since May, the FTSE 100 is the laggard amongst the three indices covered in this article and is treading water slightly above an ascending trendline from April. Should it fail, bears may look to attack recent swing lows in the lead up to the Fibonacci level at 5,900.

FTSE 100 Price Chart: 4 – Hour Time Frame (March 2020 – July 2020)

FTSE 100 price chart

To be sure, the series of higher lows is an encouraging sight from a technical perspective, but the lack of positive progress is concerning. All in all, it seems the FTSE 100 simply lacks the fundamental catalyst required to establish gains like that of the DAX 30 and CAC 40 – never mind the US indices.

--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