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
Oil - US Crude
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
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
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
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • German Bund Yields Update: 2-Year: -0.653% 3-Year: -0.632% 5-Year: -0.543% 7-Year: -0.482% 10-Year: -0.311% 30-Year: 0.093%
  • Tune in to @PeterHanksFX 's #webinar at 11:00 AM ET/3:00 PM GMT as he discusses top levels to watch on #DAX, #DOW & more. Register here: https://t.co/Rwbt9aNfIR https://t.co/dsMnt4IKP4
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.72%, while traders in USD/CAD are at opposite extremes with 68.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JVmws5Wbuw
  • #oil demand in India sinks by 70% on lockdown
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 4.34% Gold: 0.48% Silver: 0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/NKldwbtinl
  • EU approves Hungary's €140 M support for #coronavirus
  • After the drop in GBP/USD last Friday, it has now stabilized close to the 1.23 level rather than the previous 1.24. Get your $GBPUSD market update from @MartinSEssex here: https://t.co/1Tg7dEbYgL https://t.co/BLYL9eP7X1
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.14% US 500: 1.09% Germany 30: -0.30% France 40: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0Y3cxfvMgn
  • $USDJPY tests 109.10 as US stock futures rise ahead of market open https://t.co/7h6yrpXbmc
  • Glapinski: - The risk of deflation remains
CAC 40 Advances For Third Session

CAC 40 Advances For Third Session

2017-01-26 14:13:00
Walker England, Forex Trading Instructor
Share:

Talking Points:

CAC 40 continues to move higher for Thursdays trading (+0.03%), after bouncing from yearly lows earlier in the week. If today’s session closes higher, it would mark the third consecutive daily rally for the Index after finding support above 4,800.00 on Monday. Top winners for the CAC 40 include Nokia (+3.28%) and Pernod Ricard (+2.34%). Today’s top losses for the CAC 40 include Saint-Gobain (-1.34%) and Airbus (-1.16%).

Technically the CAC 40 is rebounding off of support found at the weekly low, but the Index has yet to breakout to new significant 2017 highs. Before the Index can continue to rally, the CAC 40 must next break through the psychological 4,900.00 level. This level was tested earlier this morning, but prices were quickly rejected here. If the CAC 40 fails to breakout higher, it may suggest a change in market momentum and open prices to retest the 2017 low.

CAC 40, Daily Chart

CAC 40 Advances For Third Session

(Created Using IG Charts)

Intraday the CAC 40 is turning lower after testing initial resistance found at the displayed R1 pivot, at a price of 4,897.50. If prices continue to turn lower, a break below the central pivot at 4,869.16 would suggest that short term momentum has turned bearish for the session. In this scenario, traders may look for the Index to test values of support. This includes the S1 and S2 pivot, found at 4849.03 and 4,820.66 respectively.

In the event of a bullish breakout, traders will find the next points of resistance at the R2 and R3 daily pivot values. A move above the R2 pivot at 4917.66 should be seen as significant. This would place the CAC 40 above the previously mentioned psychological 4,900.00 level, and open the Index to make a push to new yearly highs above 4,929.80.

CAC 40, 30 Minute Chart with Pivots

CAC 40 Advances For Third Session

(Created Using IG 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 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.