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
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/IyQdfq29fz
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/R7pa7DsM8n
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/EhdZpmkzaH
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook: https://www.dailyfx.com/forex/video/daily_news_report/2021/01/23/Dow-VIX-Tesla-and-Leverage-Reflect-Greater-Risk-to-the-Relentless-Bull-Market.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/KBOJIRPTQe
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/qP2PbS4dsY
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/POGWDIkqqz
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here: https://t.co/5GO9UrvO4y https://t.co/H76jNJJxU5
  • 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/1TiEWCbJ6t
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/fN2mfHgpON
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:https://t.co/qxQwHgD9Ey https://t.co/ym73tgtHLn
CAC 40 Trading Remains Confined by Range

CAC 40 Trading Remains Confined by Range

Walker England, Forex Trading Instructor

Talking Points

  • The CAC 40 Trades Down -.89%
  • Today’s Daily Candle Marks 13 Days of Consolidation
  • SSI Reads Bearish at +1.73

CAC 40 Daily Chart

CAC 40 Trading Remains Confined by Range

(Created using Marketscope 2.0 Charts)

What is next for the equities market? Click HERE for our analysts Free forecast!

The CAC 40 is trading lower this morning, down -0.89% on the day. With only moderate movement in the index, the CAC 40 appears to be consolidating for the 13th consecutive day. Out of all 40 listed stocks only four components are trading positive today. ArcelorMittal is leading the Index trading up 2.16%. Bouygues is leading the decliners trading down -3.44%. Technical traders monitoring the CAC 40 should continue to note that the Index continues to consolidate in a trading range. This range is comprised using the March 10 high (4,582.50) and low (4,302.00). As prices trade sideways, traders may elect to trade the range, or simply wait for a directional breakout prior to entering into the market.

Key day trading values for the CAC 40 includes today’s S4 Camarilla point, which is found at a price of 4,389.41. So far, price has attempted to break below this value price. In the event that price decline below this point, it opens the Index up to trade lower towards the previously mentioned range low at 4,302. It should also be mentioned that the S3 pivot, found at 4,412.46, is acting as a value of intraday range support. If the CAC 40 trades back inside this value, it opens the Index to test values of daily resistance. This includes the R3 pivot at 4,458.55 and the R4 pivot at 4,481.59.

CAC 40 30 Minute Chart with Camarilla Pivots

CAC 40 Trading Remains Confined by Range

(Created using Marketscope 2.0 Charts)

SSI (speculative sentiment index) for the CAC 40 (Ticker: FRA40) is currently reading at +1.73. This value remains positive, and when taken as a contrarian reading suggests further declines for the Index. In the event of a bearish breakout, traders should look for this number to increase in value to further extremes. Conversely, in the event of a bullish reversal, traders should look for SSI to move towards more neutral values.

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 Guide to 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