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
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
GBP/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
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
  • Update on #Cryptocurrencies #BITCOIN +2.89% #BITCOINCASH +3.09% #ETHEREUM +3.88% #RIPPLE +1.65% #LITECOIN +5.79%
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/GVZ0RT2Zh3
  • BoJ's Kataoka: Hard to see inflation nearing 2% Will keep making utmost effort toward price target - BBG #BoJ $JPY
  • 🇨🇳 Caixin Services PMI (FEB) Actual: 51.5 Previous: 52.0 https://www.dailyfx.com/economic-calendar#2021-03-03
  • BoJ's Kataoka: Desirable to lower rates to strengthen easing Will add stimulus without hesitation if needed Will extend special funding program if necessary - BBG #BoJ $JPY
  • RT @BrendanFaganFx: AUD/USD Eyes February High After Australian Q4 GDP Beat $AUD $USD Link: https://www.dailyfx.com/forex/market_alert/2021/03/03/AUDUSD-Eyes-February-High-After-Australian-Q4-GDP-Beat.html
  • BOJ's Kataoka says it is appropriate to link forward guidance to a price target - BBG $USDJPY
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your market update from @DanielGMoss here: https://t.co/9bkVXQuP5C https://t.co/K4OaGLhNm1
  • Heads Up:🇨🇳 Caixin Services PMI (FEB) due at 01:45 GMT (15min) Previous: 52.0 https://www.dailyfx.com/economic-calendar#2021-03-03
  • Heads Up:🇨🇳 Caixin Composite PMI (FEB) due at 01:45 GMT (15min) Previous: 52.2 https://www.dailyfx.com/economic-calendar#2021-03-03
The CAC40 Declines to New Monthly Low

The CAC40 Declines to New Monthly Low

Walker England, Forex Trading Instructor

Talking Points

  • The CAC40 Breaks to a New Monthly Low
  • Bearish Targets Include the October 2015 Low at 3,786
  • SSI Reads at +1.69

CAC40 30 Minute Chart

The CAC40 Declines to New Monthly Low

(Created using Marketscope 2.0 Charts)

What is in store for the Euro in 2016? See our Analyst forecast here!

The CAC40 is consolidating this morning, after first breaking out to a new weekly low under 3,950. As seen in the graph above the Index is now ranging between short-term resistance near 3940 and support, which is found near 3,900. As this range develops, traders looking to join the CAC40’s prevailing downtrend may wait for a fresh breakout in price below support. In this bearish scenario, traders may look for the Index to continue to decline, and next challenge the October 2015 low, which stands at 3,786.

In the event that prices fail to decline, and breakout above resistance, this may temporarily suspend any further downtrend momentum for the CAC40. In the event of a bullish price reversal, traders may look for prices to challenge values of resistance, which include daily values at 4,035 and 4,089. A move above these values would be considered significant as it would suggest that a larger reversal or bullish retracement may be in store for the Index.

SSI (Speculative Sentiment Index) for the CAC40 (Ticker FRA40) is currently reading at +1.69. While this value is negative, it is not as extreme as last week’s reading of +3.41. When read as a contrarian signal, current CAC40 SSI reads as a bearish signal. However is sentiment readings continue to decline, it may suggest a potential change in the Indices ongoing downtrend.

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

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 Guideto 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