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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.25% 🇨🇭CHF: 0.03% 🇪🇺EUR: -0.03% 🇯🇵JPY: -0.13% 🇳🇿NZD: -0.21% 🇦🇺AUD: -0.24% View the performance of all markets via
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.82% FTSE 100: 0.28% Germany 30: 0.19% US 500: 0.18% Wall Street: -0.02% View the performance of all markets via
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • USD/JPY IG Client Sentiment: Our data shows traders are now net-long USD/JPY for the first time since Jul 20, 2021 09:00 GMT when USD/JPY traded near 109.86. A contrarian view of crowd sentiment points to USD/JPY weakness.
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Gold Prices Climb Ahead of FOMC as Traders Anticipate Status Quo, USD Falls
  • 🇮🇹 Business Confidence (JUL) Actual: 115.7 Expected: 115.4 Previous: 114.8
  • 🇮🇹 Consumer Confidence (JUL) Actual: 116.6 Expected: 115.5 Previous: 115.1
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.24%, while traders in Wall Street are at opposite extremes with 73.69%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇮🇹 Business Confidence (JUL) due at 08:00 GMT (15min) Expected: 115.4 Previous: 114.8
DAX Range Continues, CAC 40 Declines into Support

DAX Range Continues, CAC 40 Declines into Support

Paul Robinson, Strategist

What’s inside:

  • DAX remains in range
  • CAC 40 decline a sign, or healthy pullback?
  • Taking it slow until the market picks back up

Trading Guides and Forecasts

The DAX remains within the confines of the range dating back to the second trading day of the month. Outside of two days where the index attempted but failed to breakout (1/11) and breakdown (1/17), the range has been a very narrow 130 or so points between ~10520 and ~11650. Given the strong trend since November we continue to run with the idea that we are seeing a consolidation period before an extended move higher, but we will be patient and react versus predict.

The DAX is currently trading at the low-end of the range and needs to hold on a daily closing basis; a dip below 10520 can occur on an intra-day basis and no damage done as long as it recovers to finish the day back inside the range. Close below, and we’ll have to consider the possibility of the recent consolidation turning out to be a period of topping, or distribution.

DAX: Daily

DAX Range Continues, CAC 40 Declines into Support

Created with Tradingview

The CAC 40 hasn’t been holding as well as the DAX in the past week. The index is currently testing the low-end of a late-December consolidation period, and more importantly a trend-line running up from the November lows. We’ll be watching to see how French stocks react here; is the recent weakness a sign of a weakening backdrop for European equities, or just a healthy pullback? Watch the descending channel off the 1/13 high - a break above could be our cue it was just a pullback and it's ending.

CAC 40: Daily

DAX Range Continues, CAC 40 Declines into Support

Created with Tradingview

For now, the DAX isn’t a ‘fun’ place to be as a trader. There lie better opportunities in other asset classes at the moment, but that could change in a day so we need to be ready if (when) it does. You never want to get caught flat-footed.

See our Webinar Calendar for a schedule of upcoming live events with DailyFX analysts.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.