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
Mixed
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
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
Bullish
USD/JPY
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
More View more
Real Time News
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/2MCG036HGH https://t.co/CbnRsuyRwi
  • #Gold saw its worst performance the past 5 days in 5 months as longer-dated government bond yields in developed countries rose Could this be the beginning of a turning point in #XAUUSD? https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/08/15/Gold-Price-Outlook-Will-XAUUSD-Brush-off-Worst-Week-in-5-Months.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/x2Indk3b7P
  • 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/PT09ZsIOCa
  • The US #Dollar may rise, buoyed by haven demand as fiscal stimulus talks stagnate and swelling tensions between Washington and Beijing sink trade talks. Get your #currencies update from @DanielGMoss here: https://t.co/Wcw9PDUr67 https://t.co/gnYZYl6aLV
  • Upside in #CrudeOil struggling ahead of #OPEC meeting. Cartel likely to maintain wait and see approach. Get your #commodities update from @JMcQueenFX here: https://t.co/gNHHKoTUzm https://t.co/eF40DRIBJ5
  • #Gold had some big moves last week, and while vol is expected to die down a bit, it will be important to see if gold can hold its ground in the coming days/weeks. Get your #metals update from @PaulRobinsonFX here: https://t.co/N8a84hRnHN https://t.co/3fjodPHTDm
  • The S&P 500's refusal to hit a record and Dollar's anchor to range this past week is sign of summer liquidity conditions, but the quiet is not insurmountable. 'S&P 500 Record and Dollar Break Look to Stimulus and Trade to Override Seasonality' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/15/SP-500-Record-and-Dollar-Break-Look-to-Stimulus-and-Trade-to-Override-Seasonality-.html https://t.co/mbvPkdQfYl
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkcMZBK https://t.co/kFk6ccU3Sk
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/aXSB0bG3y0
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/i342ipPuvW
DAX 30, CAC 40 & FTSE 100 Forecasts for the Week Ahead

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

2020-07-08 17:25:00
Peter Hanks, Analyst
Share:

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.

Equities Forecast
Equities Forecast
Recommended by Peter Hanks
Get Your Free Equities Forecast
Get My Guide

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

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.