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
EUR/USD
Mixed
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
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.88%, while traders in NZD/USD are at opposite extremes with 70.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/N3lFhLUE67
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/ZJOEtpGUIq https://t.co/mqU8ND0BqU
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.41% 🇨🇦CAD: 0.36% 🇯🇵JPY: 0.20% 🇦🇺AUD: 0.16% 🇪🇺EUR: 0.16% 🇨🇭CHF: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sCW4DtQP6y
  • Heads Up:🇺🇸 Durable Goods Orders Ex Transp MoM (SEP) due at 12:30 GMT (15min) Expected: 0.4% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2020-10-27
  • Heads Up:🇺🇸 Durable Goods Orders MoM (SEP) due at 12:30 GMT (15min) Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2020-10-27
  • White House spokeswoman says administration is confident that it can reach COVID aid package in coming weeks - Fox News
  • 🇲🇽 Balance of Trade (SEP) Actual: $4.385B Expected: $3.795B Previous: $6.116B https://www.dailyfx.com/economic-calendar#2020-10-27
  • Heads Up:🇲🇽 Balance of Trade (SEP) due at 12:00 GMT (15min) Expected: $3.795B Previous: $6.116B https://www.dailyfx.com/economic-calendar#2020-10-27
  • EU Commission says both the EU and UK are engaging intensively to reach a deal $GBP
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/kERhNpX24T
CAC 40 Bounces From Daily Lows

CAC 40 Bounces From Daily Lows

2016-10-26 18:05:00
Walker England, Forex Trading Instructor
Share:

Talking Points:

The CAC 40 is trading down on the day, down -0.14%. Top CAC 40 gainers for Wednesday’s trading session include Kering +7.75%, Airbus Group +3.76%, and Nokia +3.17%. The largest losers for the session include Cap Gemini –7.28% and Unibail-Rodamco trading down -3.03%.

Technically the CAC 40 continues to trade below previous daily support at 4,569.50. This move in price may indicate that Friday’s advance may be seen as a false breakout. If the CAC 40 continues to trade lower, it may open the Index to retest ascending support found near 4,404.00. However if the CAC 40 finds support intraday, it may suggest that the Index is attempting to rebound back towards higher highs.

CAC 40, Daily Chart

CAC 40 Bounces From Daily Lows

(Created with TradingView Charts)

Intraday the CAC 40 remains supported above the S3 Fibonacci Pivot found at a price of 4,504.00. This has allowed the Index to technically advance back towards values of resistance. If the CAC 40 continues to advance, it should be noted that next resistance is found at the R1 at 4,563.00. A move through this point exposes bullish breakouts above 4,589.40. A move through this value would be considered significant, as it would place the CAC 40 back above Monday’s breakout point.

Alternatively, if the CAC 40 begins to turn lower under the S1 pivot, next support is found near 4,519.80. A move to this point would signal a resumption of bearish momentum, and open up the CAC 40 to retesting daily lows at 4,497.00.

CAC 40 Bounces From Daily Lows

(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.

DISCLOSURES