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
Bearish
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
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • 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/RJLpBgS43V
  • 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/6GrWzkOouM
  • 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/lIUxpfSem3
  • 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/8kBulRFd6l
  • 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/6u52PuzIaY
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/rHDy0XNZjQ
  • (Weekly Outlook) Australian Dollar Outlook: AUD/USD Divergence With Wall Street Risks Continuing #AUD $AUDUSD #Fed #Stocks https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/06/12/Australian-Dollar-Outlook-AUDUSD-Divergence-With-Wall-Street-Risks-Continuing.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/ryxG0fHmzd
  • The US Dollar steadied against most ASEAN currencies this past week. Key support levels remain in play looking at USD/SGD, USD/THB and USD/PHP. USD/IDR may rise with a new trendline. Get your market update from @ddubrovskyFX here:https://t.co/bpr5ZlKIcE https://t.co/0pskmzXZHi
  • EUR/USD has been looking toppy since late May as bearish technical signals played out. But, rising Euro short bets from retail traders hint that the currency may hold its footing. Get your market update from @ddubrovskyFX here:https://t.co/fAZijmQVqh https://t.co/pXICvFE007
  • The Japanese Yen may rise as retail investors increase their long exposure in pairs like USD/JPY and EUR/JPY. Will these pairs turn lower? What are key levels to watch for? Find out from @ddubrovskyFX here:https://t.co/PqNahX71oF https://t.co/xZzmwrVQcr
South Africa 40 Cash Index range trade and dividend consideration

South Africa 40 Cash Index range trade and dividend consideration

Shaun Murison, CFTe, Technical Strategist

SA40 Cash Index (DAILY)

South Africa 40 Cash Index range trade and dividend consideration

The SA40 Cash Index did not extend the gains we had previously hoped for, but instead continued to retrace back towards the 50681 support level. As in our previous guidance, we still maintain a bullish bias to trades. Those using a close below 50681 as the failure level last week, would stillbe in long positions on the Index, although under pressure. The blue arrows highlight long lower wicks on the candles which have tested the 50681 level of support. This shows a price rejection and reinforces buying support at this level. From current levels we consider a short term range trade opportunity, with the initial upside target considered at 52345. A close above 52345 considers 53090 as the next resistance target favoured. We continue to use a close below 50681 as the failure level for the trade consideration.

Important to note, those trading the SA40 Cash Index will be subject to a dividend adjustment on Tuesday 6 March, which is currently estimated to be around 142 points.

Struggling with your trading? This could be why.

SA40 Cash Index (PREVIOUS)

South Africa 40 Cash Index range trade and dividend consideration

The SA40 Cash Index has now confirmed the trend line breakout we were waiting for in the last note (below), to trigger the long entry scenario. The breakout suggests the upward trend is now continuing. A pullback to 51250 could provide a second long entry opportunity, although we are comfortable with an entry at current levels as well. 53090 is the initial resistance target favoured, a break of which (with a close above) considers a move to the next resistance level at 54790. Should the price instead move to close below the reversal low at 50681 the bullish move suggested would be deemed to have failed.

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

DISCLOSURES