Skip to Content
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
CAC 40 Breaks to Weekly Highs

CAC 40 Breaks to Weekly Highs

Walker England, Forex Trading Instructor

Talking Points

  • CAC 40 Breaks Higher; Trading up +1.21%
  • Intraday CAC 40 Resistance is Found at 4,429.80
  • What’s next for the equities market? Learn more with our Trading Guide

The CAC 40 has broken out higher this morning, above critical resistance at 4,505. So far, the Index is trading up +1.21% on the session, with Peugeot having the largest daily advance of +3.43%. Today’s technical breakout is significant, as it invalidates a declining trendline that has been acting as resistance for the last month of trading. If the CAC 40 continues to advance from this point, traders may look for prices to test next resistance at 4,530.00.

CAC 40, Daily Chart

(Created with TradingView Charts)

Intraday, the CAC 40 has blown through all values of short-term resistance so far. Despite this rapid advance in price, traders should continue to monitor today’s R4 pivot at 4,471.50. While this value was acting as previous resistance, it may now be considered short-term support for the Index. Traders may elect to maintain a bullish bias as long as the CAC 40 remains above this point. Alternatively, in the event of a bearish reversal, traders may consider this morning’s breakout invalidated below this point. It should be noted, that in the event of a bearish reversal, the next values of short-term support include 4,462.50 and 4,444.50.

CAC 40, 30 Minute Chart with Pivots

(Created with TradingView Charts)

---Written by Walker England, Market Analyst

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.