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. See our updated Privacy Policy here.

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
More View more
Real Time News
  • 🎯 Bitcoin extending its surge through the weekend to trade back above $35K. Seeing some serious upward momentum here, but in light of Fed event risk this week, it may be prudent for short-term tactical traders to consider unwinding exposure a bit. #Bitcoin $BTC $BTCUSD https://t.co/OZjpMGIINQ https://t.co/3miq9M8YS9
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3ISNw2 https://t.co/3y2qs4VDuu
  • RT @FxWestwater: Asia AM - New Zealand Dollar Outlook: $NZDUSD Breakout Chance Shifts Into View https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/07/25/New-Zealand-Dollar-Outlook-NZDUSD-Breakout-Chance-Shifts-Into-View.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/OIRR1…
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/2Qka1WPhnE
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/kloJCFmJty
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/wwxKQFibW6
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX! A look at the levels heading into #FOMC - https://t.co/lxd5fZnn4H
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/Nx6AHxZksK
  • Markets Week Ahead: Euro, Dollar, Gold, S&P 500, Earnings, Inflation Check out @RichDvorakFX's latest market recap and preview plus all the weekly forecasts from the @DailyFXTeam at the link below! Link to Analysis - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/07/25/markets-week-ahead-euro-dollar-gold-sp500-fed-earnings-inflation.html $EURUSD $SPX #Trading
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/xKkBwu951j
CAC 40 Remains Flat Ahead of Election

CAC 40 Remains Flat Ahead of Election

Walker England, Forex Trading Instructor

Talking Points:

  • CAC 40 Remains Flat Ahead of French Election
  • Daily Resistance May be Considered at 5,362.30
  • Looking for additional trade ideas for equities markets? Read our 2017 Market Forecast

The CAC 40 has remained quiet after the conclusion of round 1 of the 2017 French presidential election. The Index is now consolidating for its second consecutive week as traders await the final election round to be held on May 7th. Currently the CAC 40 Index is trading up 0.38% for Tuesday’s trading, with the Index remaining well under its 2017 high at 5,362.30. Top leaders for the session include Cap Gemini (2.09%) and Nokia (+1.70%). Top Losers for today’s trading include both Vivendi(-1.40%) and Publicis (-1.27%).

CAC 40, Daily Chart with 10 Day EMA

CAC 40 Remains Flat Ahead of Election

(Created Using IG Charts)

Technically, even with this week’s ongoing consolidation, the CAC 40 remains in a technical uptrend. The Index remains trading above both its 10 day EMA (exponential moving average) at 5,233.83 and 200 day MVA (simple moving average) at 4,768.44. Key technical areas to monitor for the Index includes both the high at 5,362.30 and low at 5,158.50 from April 24th. These points represent the market extremes following the first round of the 2017 presidential election, and should be considered as ongoing values of support and resistance.

CAC 40 Remains Flat Ahead of Election

Want to learn more about trading with market sentiment? Get our Free guide here.

Traders should note that IG Client Sentiment (IGCS) for the CAC 40 (Ticker: France 40) remains at extremes. Currently IGCS stands at -2.93 with only 25.5% of traders net long the Index. This reading is considered extreme, and when taken as a contrarian signal this extreme negative value suggests that the CAC 40 may continue to trader higher. If the CAC 40 trades to new highs, it is likely that sentiment figures will remain at extremes. Alternatively in the event of a bearish reversal, traders may look for sentiment values to normalize back towards neutral values.

--- 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