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.

Free Trading Guides
EUR/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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Heads Up:🇺🇸 USD Monthly Budget Statement (SEP) due at 00:00 GMT (15min), Actual: N/A Expected: $86.0b Previous: $119.1b https://www.dailyfx.com/economic-calendar#2019-10-15
  • (Asia Pacific AM Briefing) AUD/USD Downtrend Held, Yen Up. US-China Trade Deal Optimism Faded $AUDUSD $USDJPY - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/10/14/AUDUSD-Downtrend-Held-Yen-Up-US-China-Trade-Deal-Optimism-Faded.html?CHID=9&QPID=917702 https://t.co/jJPPKvDHdy
  • The $AUD could be at risk of reversing gains recorded so far this month if the recent ‘phase 1’ US-China trade agreement fails to be finalized. Get your market update from @RichDvorakFX here: https://t.co/uKq0SepxRG https://t.co/sJJSFKXjjn
  • The $SPX's range Monday was the second smallest in the past year. That wouldn't be particularly unusual if it weren't for the supposed break through in the US-China trade war the previous active trading day (Friday)... https://t.co/dUnaRCZufd
  • Some of top event risk over the next 24hrs are: Eurozone ZEW Survey (Economic Sentiment) for October [9:00 GMT], German ZEW Survey Expectations for October [9:00], and New Zealand’s YoY Consumer Price Index [21:45] #NZD #Eurozone
  • The $SGD is driven by the Monetary Authority of Singapore, which manages exchange rate instead of short-term interest rates. Learn more on the $SGD and how to trade it from @ddubrovskyFX here: https://t.co/eWLM9XZs5Y https://t.co/PyWV2maVHY
  • RT @bbands: If you are based in Chicago, I'll be joining @IG_US on October 28th for a talk on applications of Bollinger Bands in forex. Com…
  • As expected, sentiment couldn't find much follow-through after the conclusion of US-China Phase 1 talks last week. The MSCI #EmergingMarkets Index is off to an eerie familiar decline saw after the US-China #G20 trade truce back in June - https://t.co/fTs63TY1LB https://t.co/revJYXI2HX
  • List of countries engaged in a trade war (or may be entering a trade tiff) US-EU 🇺🇸🇪🇺 US-China🇺🇸🇨🇳 India-Brazil🇮🇳🇧🇷 Malaysia-India🇲🇾🇮🇳 South Korea-Japan🇰🇷🇯🇵
  • List of countries engaged in a trade war (or are may enter a trade tiff) US-EU 🇺🇸🇪🇺 US-China🇺🇸🇨🇳 India-Brazil🇮🇳🇧🇷 Malaysia-India🇲🇾🇮🇳 South Korea-Japan🇰🇷🇯🇵
CAC 40 Closes Slow Trading Week Unchanged

CAC 40 Closes Slow Trading Week Unchanged

2016-11-18 18:32:00
Walker England, Forex Trading Instructor
Share:

Talking Points:

The CAC 40 is set to close a slow trading week in a technical consolidation pattern, by failing to make any new significant highs or lows. For Friday’s trading, the Index is currently trading down -0.42% and is set to close lower for the session. Notable winners for the CAC 40, include Nokia (+3.88%) and L'Oréal(+0.98%). Decliners for Friday include Vivendi (-2.62%) and Engie (-2.00%).

Technically, the CAC 40 can be described as ranging inside of a broader consolidation pattern. Since the Index has turned back under 4,600.00, the lowest low recorded is found at 4,473.40. This point is acting as support for the highlighted range, with resistance being found at Monday’s high of 4,560.90. Traders should continue to monitor these points, as a short term breakout could greatly affect the CAC 40’s larger pricing pattern.

CAC 40 Closes Slow Trading Week Unchanged

(Created Using TradingView Charts)

As seen above, the CAC 40 continues to trade in a broader ascending price channel. This pattern as mentioned in previous CAC 40 updates, is comprises by connecting a series of parallel daily highs and lows. If this pattern holds, traders may look for the Index to breakout lower under the previously mentioned point of range support. A breakout of this nature would then suggest that the CAC 40 may trade back towards the longer term point of channel support near 4,340.00.

In the event that the CAC 40 breaks through the top of the displayed range, traders may look for the Index to trade back to channel resistance. This point is located near 4,600.00 and represents a critical turning point in price. If prices break above this value, it may suggest an end of this period of consolidation, and the beginning of a newly developing uptrend.

--- Written by Walker, Analyst for DailyFX.com

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

See Walker’s most recent articles at hisBio 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

News & Analysis at your fingertips.