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.

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
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
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
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.27% 🇨🇦CAD: 0.05% 🇳🇿NZD: -0.09% 🇨🇭CHF: -0.16% 🇦🇺AUD: -0.23% 🇯🇵JPY: -0.67% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zBEnHG1OJ9
  • US 10-year Treasury yields aiming higher on positive vaccine developments after U-turning at Ascending Channel support A move back towards the November high (0.98) looks likely in the near term and could spell further downside for #gold prices $TNX $GLD #US10Y https://t.co/7TgKaDHLdB
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.43% Gold: -1.90% Silver: -2.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/m88Pl31QW4
  • Michigan certifies election results for Joe Biden - BBG
  • Mexican Peso is carving the weekly opening-range just above downtrend support and while the broader risk remains lower. Get your $USDMXN market update from @MBForex here:https://t.co/7KPza6gEmZ https://t.co/u1Fdz3dwEI
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.33%, while traders in NZD/USD are at opposite extremes with 75.64%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yjvp0kn5Ab
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.07% France 40: 0.02% Wall Street: 0.01% US 500: 0.01% FTSE 100: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/AWgEa62SzF
  • 🇰🇷 Consumer Confidence (NOV) Actual: 97.9 Previous: 91.6 https://www.dailyfx.com/economic-calendar#2020-11-23
  • Heads Up:🇰🇷 Consumer Confidence (NOV) due at 21:00 GMT (15min) Previous: 91.6 https://www.dailyfx.com/economic-calendar#2020-11-23
  • Fed's Evans: -Still waiting for many sectors to recover -Won't have good reading on economy until next spring -Virus creates uncertainty for CMRE -Extra fiscal support would ease a lot of uncertainty -Does not see FOMC raising rates before late 2023 $USD $DXY $SPX $GOLD
DAX & CAC Technical Analysis: Quietly Grinding After Leaps Over Big Levels

DAX & CAC Technical Analysis: Quietly Grinding After Leaps Over Big Levels

2017-09-20 08:28:00
Paul Robinson, Strategist
Share:

What’s inside:

  • DAX holding up well after breakout above the 12300-area
  • CAC continues to grind higher following bull-flag breakout
  • Both looking for higher prices, will require sharps breaks to undermine outlook

Struggling to gain momentum in your trading? Check out this beginner’s guide – Building Confidence in Trading

The last time we looked at the DAX it was only a day removed from breaking out above the 12300-area which held it underwater for much of the summer. Since then, it’s gone into a slightly upwardly sloping range. From the standpoint of holding the rally since the 8/29 low it’s a bullish development. The next level of solid resistance comes in around the July peak at 12676, or about 110 points from the current level. It’s not a stretch to think the market can’t get there soon. More broadly speaking, as long as the area surrounding 12300 holds on any weakness, the market will retain a neutral to bullish posturing.

DAX: Daily

DAX & CAC Technical Analysis: Quietly Grinding After Leaps Over Big Levels

The CAC is positioned even more positively after breaking above the top-side trend-line of the channel (bull-flag) dating back to the Macron victory in the French presidential election. The euro had the index in its grips as it continued to rally, but the breakout early last week out of the bull-flag puts the French market on path for higher prices. The first level of concern to overcome was breached yesterday, which came by way of the August swing-high at 5231. The next level of resistance before finding some separation arrives at 5259. Beyond there the CAC will have some breathing room up to around 5323/39. A strong break lower beneath the top-side trend-line of the bull-flag will be required to truly undermine a bullish outlook.

Paul conducts webinars Tuesday-Friday. See the Webinar Calendar for details, and the full line-up of upcoming live events.

CAC: Daily

DAX & CAC Technical Analysis: Quietly Grinding After Leaps Over Big Levels

Volatility heads up: Today is the FOMC meeting and depending on the outcome and size of the reaction by U.S. markets we may see gaps on the open tomorrow morning.

---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.

DISCLOSURES