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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • (Sentiment Weekly) S&P 500, Dow Jones Forecast: Retail Investors Intensify Bearish Exposure, Now What? *And recording of today's webinar in the article link below! #SP500 #DowJones
  • 🇯🇵 Coincident Index Final (MAY) Actual: 92.1 Previous: 95.3
  • 🇯🇵 Leading Economic Index Final (MAY) Actual: 102.6 Previous: 103.8
  • Heads Up:🇯🇵 Leading Economic Index Final (MAY) due at 05:00 GMT (15min) Previous: 103.8
  • Heads Up:🇯🇵 Coincident Index Final (MAY) due at 05:00 GMT (15min) Previous: 95.3
  • Crude Oil Prices Risk Forming a “Lower High” on Viral Concerns, Stockpiles Fall
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.37%, while traders in Wall Street are at opposite extremes with 75.02%. See the summary chart below and full details and charts on DailyFX:
  • What is your forex trading style? Take the quiz and find out:
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.14% 🇳🇿NZD: 0.04% 🇪🇺EUR: 0.04% 🇦🇺AUD: -0.02% 🇨🇭CHF: -0.03% 🇬🇧GBP: -0.03% View the performance of all markets via
CAC 40 Moves on Daily Support Near 4,300

CAC 40 Moves on Daily Support Near 4,300

Walker England, Forex Trading Instructor

Talking Points

  • CAC 40 stocks trade lower as European shares decline
  • CAC 40 prices have broken short-term support near 4,400
  • If you are looking for more trading ideas for equities markets, check out our Trading Guides

European stocks are set to close the week trading lower, with the CAC 40 trading down -1.88% on the day. This move has been accounted for as a flight to safety, as equities investors have taken money out of stocks and placed them in traditional safe haven assets such as corporate bonds. Of its 40 listed components, AXA croup is leading the CAC 40’s decline, and is currently trading down 4.13%.

CAC 40 Daily Chart

CAC 40 Moves on Daily Support Near 4,300

(Created using Marketscope 2.0 Charts)

Technically, the CAC 40 continues to trade in thepreviously described symmetrical triangle. However, with the Index declining this morning, price action has now traded through short-term support, which was found at the psychological 4,400 value. If prices continue to decline, traders may look for support near 4,300. If prices hold at trendline support, traders may begin looking for a bounce in price back towards resistance near 4,450. Alternatively, if prices breakout lower, traders may look for support at the next swing low at 4,244. A move to this value would be significant as it would suggest a change in the current market conditions, and suggest a resumption of the CAC 40’s daily downtrend.

CAC 40 Moves on Daily Support Near 4,300

Find out real time sentiment data with the DailyFX’s sentiment page.

As prices have declined, SSI (speculative sentiment index) for the CAC 40 (Ticker: FRA40) continues to rise higher. In our last updated SSI was reading at +2.20. Now after today’s decline SSI is standing at +3.37 with 77% of open interest long. This extreme net long positioning suggests that prices may continue to trade lower. Alternatively, in the event of a bullish breakout, SSI would be expected to flip net negative as prices advance.

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

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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