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
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.67%, while traders in Germany 30 are at opposite extremes with 75.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SF4w4toKO5
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.67% Oil - US Crude: 1.41% Gold: 1.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ngyNW7Dyfh
  • Gold Price Forecast: Gold Breaks Bull Flag - Can Buyers Maintain? https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/05/17/Gold-Price-Forecast-Gold-Breaks-Bull-Flag-Can-Buyers-Maintain.html $Gold https://t.co/7Bbm0rDS0G
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.23% 🇨🇦CAD: 0.17% 🇯🇵JPY: 0.16% 🇨🇭CHF: -0.10% 🇦🇺AUD: -0.22% 🇳🇿NZD: -0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BGgx9WQxZa
  • 🇷🇺 GDP Growth Rate YoY Prel (Q1) Actual: -1% Expected: -2.2% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.05% France 40: -0.10% Germany 30: -0.13% Wall Street: -0.55% US 500: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/J8JtuE98RX
  • Bitcoin and Dogecoin fell sharply as major cryptocurrencies struggle to stay in demand. Get your #cryptocurrency market update from @RichDvorakFX here:https://t.co/T1BaLrNmUI https://t.co/clFG6sYGIN
  • Heads Up:🇷🇺 GDP Growth Rate YoY Prel (Q1) due at 16:00 GMT (15min) Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Technical Levels for US #Dollar, $AUDUSD, #Gold, #Oil, $SPX & #Bitcoin and more! (Webinar Archive) - https://t.co/X4IZtKjZwm
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.22% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.07% 🇨🇭CHF: -0.07% 🇦🇺AUD: -0.27% 🇳🇿NZD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/NAFGZR3XoI
CAC 40 Closes Week in Range

CAC 40 Closes Week in Range

Walker England, Forex Trading Instructor

Talking Points:

The CAC 40 is set to close the week little changed, with prices trading just above Monday’s open at 5,343.10. For Friday’s trading, the CAC 40 remains modestly higher up just 0.22%. Key CAC 40 winners for the session include Michelin (+2.03%) and Unibail-Rodamco (+1.83). Top losers include both Veolia Environnement (-1.70%) and LEGRAND (-1.20%).

Technically the CAC 40 remains range bound, failing to make a significant high or low this week. As seen in the graph below, this range has been developing for the last 12 trading sessions. Support is defined by the May 18th low which is found at 5,238.40. Alternatively resistance for the range is found near the May 25th high of 5375.50. With prices currently trading just off of resistance, traders may look for prices to trend back towards support next week. In the event that the CAC 40 breaks out higher in next week’s trading, traders may alternatively begin to target a move back towards the standing 2017 high at 5,498.90.

CAC 40, Daily Chart with Range

CAC 40 Closes Week in Range

(Created Using IG Charts)

How can market sentiment be worked into your active trading strategy? Get our Free sentiment guide here.

Traders should note that sentiment for the CAC 40 remains relatively flat. Currently, IG Client Sentiment reads at -1.32. With 43.1% of traders long the market, this suggests that the CAC 40 may continue to trade higher. In the event of a bullish breakout next week, traders may look for sentiment figures to move towards a negative extreme of -2.0 or more. Alternatively, if the CAC 40 breaks out below the bottom of its daily range, traders may look for sentiment figures to potential flip positive during next week’s trading.

CAC 40 Closes Week in Range

--- 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