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
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
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
Breaking news

UK-EU trade deal talks have entered tunnel talks, GBP/USD Spkes to Highs

Real Time News
  • #Sterling Outlook: $GBPUSD Breakout Targets 2019 / 2020 Yearly Highs - https://t.co/reEpFP3uuV https://t.co/4Lq11aWSut
  • US Equity Update (Tuesday Close): $DJI +0.63% $SPX +1.13% $NDX +1.52% $RUT +0.89% $VIX +1.46%
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.05% Wall Street: -0.00% US 500: -0.01% France 40: -0.08% Germany 30: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/THoGZiCXvk
  • Things are popping in the FX market. $EURUSD is working on its biggest rally since March - and third biggest since Jan 12, 2018 when you exclude pandemic volatility. Even more impressive on weekly/monthly charts https://t.co/b7UjY0rEaY
  • Fed's Evans says Janet Yellen will be a great Treasury Secretary $DXY $SPX
  • Fed's Evans says rates to stay near zero until 2023, perhaps further out than that - BBG
  • Longer-term context is similarly bearish, as the recently completed November monthly bar confirmed the build of an evening star formation, which will often be followed with the aim of bearish continuation. Get your $USD market update from @JStanleyFX here:https://t.co/2pTugUA92V https://t.co/wJ3udTTiku
  • video of today's webinar archived and ready to go https://t.co/J52NQSVWJn
  • USD/CAD: From a trading standpoint, a good zone to lighten short-exposure lower protective stops – be on the lookout for inflection here early in the month. Get your $USDCAD market update from @MBForex here:https://t.co/dRIjXRT14r https://t.co/THCTW45z4e
  • US Dollar Breaches Big Support, Builds Evening Star on M1 https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/12/01/US-Dollar-Breaches-Big-Support-Builds-Evening-Star-on-M1.html
CAC 40 Little Changed on ECB News

CAC 40 Little Changed on ECB News

2017-01-19 13:45:00
Walker England, Forex Trading Instructor
Share:

Talking Points:

CAC 40 is little changed today, despite this morning’s highly anticipated ECB (European Central Bank) rate decision. As expected rates were kept in line with expectations at 0.0%, but now the market is waiting on Mario Draghi to speak to get further insight into this decision. Top winners for the CAC 40 include Pernod Ricard (+1.26%) and AXA (+0.93%). Losers for the day include Essilor International (-2.42%) and Unibail-Rodamco (-1.36%).

Technically, the CAC 40 is drifting lower after yesterday’s breakout. However with the Index failing to trade to a new daily low or high, the Index is poised to close the session with the creation of an inside bar. This means traders may use Wednesdays high and low as points of support and resistance. A breakout above yesterday’s high of 4875.70 would place the CAC 40 back inside of last week’s range; while a move below the low at 4,827.10 suggests that the Index is preparing for a deeper retracement.

CAC 40, Daily Chart with Range

CAC 40 Little Changed on ECB News

(Created Using TradingView Charts)

Looking for additional trade ideas for Oil and Commodities Markets? Read Our 2017 Market Forecast

Intraday the CAC 40 is currently bouncing from short term support at 4,840. This point is depicted in the graph below as the S3 pivot, and bottom of today’s range. If prices remain supported here, the CAC 40 may attempt to trade back towards range resistance found at 4,866.60. It should be noted here that the Index has already tested this point of resistance once, and failed to breakout higher.

In the event of a late session breakout, traders should continue to monitor both the S4 and R4 pivots. A move below S4 at 4,826.60 would see the CAC 40 trading back in the direction of its short term trend. Further declines would expose new weekly lows, and the next critical point of daily support near 4,822.30. Alternatively, a bullish breakout above the R4 pivot at 4,880.00 may expose new weekly highs above 4,911.40.

CAC 40, 30 Minute Chart with Pivots

CAC 40 Little Changed on ECB News

(Created Using TradingView Charts)

--- 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 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