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
Bullish
GBP/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
USD/JPY
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
Gold
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
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • The $CAD rose on a hopeful tone from the Bank of Canada, but the largest risk to the central bank’s outlook remains unresolved. NZD/CAD has rallied. Will AUD/CAD follow as CAD/JPY sinks? Get your market update from @ddubrovskyFX here: https://t.co/AairskIHA5 https://t.co/yN1cOecTSR
  • After a dismal week for the $USD, SGD, PHP, IDR and MYR turn their focus to the Federal Reserve. USD/PHP is also awaiting the BSP rate decision as USD/INR eyes Indian CPI data.Get your market update from @ddubrovskyFX here:https://t.co/UmEIk1gB1i https://t.co/cDOhjQRYUF
  • #GBP, #NOK and #SEK are expected to be the most-active #G10 currencies against the #USD with one-week implied volatility at 18.38, 9.48 and 9.45 respectively [delayed]
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.00% Gold: -0.06% Silver: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FbMAdpa5t3
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.29% 🇦🇺AUD: 0.15% 🇨🇦CAD: 0.06% 🇪🇺EUR: 0.04% 🇨🇭CHF: 0.01% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/kUbBMG5fuu
  • LIVE NOW! Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental AUD/USD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.02%, while traders in US 500 are at opposite extremes with 77.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XN22tIuQHy
  • Japan's Economy Minister Yasutoshi Nishimura: See Japan's economy as gradually recovering, consumption drop not as large as after last tax hike -BBG
  • LIVE IN 30 MIN: Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental AUD/USD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720
  • The Australian Dollar is vulnerable to volatility on the Fed and UK General Election after Chinese CPI data surprised higher. I discuss the technical outlook in $AUDUSD and $AUDJPY here #AUD #TradeWar - https://www.dailyfx.com/forex/market_alert/2019/12/10/Australian-Dollar-Outlook-in-AUDUSD-AUDJPY-After-China-CPI.html?CHID=9&QPID=917702 https://t.co/ljRFPxpV3F
CAC 40 Trends to New 2017 Highs

CAC 40 Trends to New 2017 Highs

2017-03-02 13:24:00
Walker England, Forex Trading Instructor
Share:

Talking Points:

  • CAC 40 Trends to New 2017 Highs
  • Key Daily Support is Found Near 4,834.96
  • Intraday Values of Resistance Includes 5,028.63 and 5,082.76

CAC 40 has blasted to new 2017 highs, as global equities markets continue to rally on new optimism. At this point in Thursday’s trading the CAC 40 is up +0.21%. Top winners for the CAC 40 include Engie SA (+7.81%) and LafarageHolcim (+3.04%). Losers for the day include Essilor International (-1.92%) and Pernod LOreal (-1.02%).

Technically, the CAC 40 is now trending higher in both the long and short terms. The Index is currently trading well above its 10 Day EMA (exponential moving average) after yesterday’s advance. This average is found at 4,904.78, and is now acting as a value short term support for the Index. It should be noted after yesterday’s breakout, that the previous line of resistance found at the February 15th high of 4,943.80 may also be considered as a point of ongoing support on the daily graph.

CAC 40, Daily Chart with Averages

CAC 40 Trends to New 2017 Highs

(Created Using IG Charts)

Looking for additional trade ideas for equities markets? Read our 2017 Market Forecast

Intraday the CAC 40 is again trading above its central pivot, found at 4,943.46. Typically this is interpreted as bullish in the short term, and traders may begin looking for the Index to challenge points of intraday resistance. This includes today’s R1 and R2 pivots found at 5,028.63 and 5,082.76 respectively. If prices continue reach 5,082.76 this should be seen as significant. The CAC 40 would then be trading at technical levels that haven’t been seen since August of 2015.

In the event of bearish swing intraday, traders should first look for the Index to trade below the previously mentioned central pivot. The next support levels will then include the S1 and S2 pivots for the day. These levels are found at 4,889.33 and 4,804.16 respectively. In a bearish scenario to either of these values, traders should also note that the CAC 40 may then be prepared to close back below both the 10 day EMA and daily line of support previously mentioned.

CAC 40, 30 Minute Chart with Pivots

CAC 40 Trends to New 2017 Highs

(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.