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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • RT @FxWestwater: $USDTRY, $EURTRY Jump to Record Highs on #Lira Weakness - via @DailyFX https://www.dailyfx.com/forex/market_alert/2020/08/06/USDTRY-EURTRY-Jump-to-Record-High-on-Lira-Weakness.html https://t.co/LsZS5Tifho
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 4.47% Gold: 0.94% Oil - US Crude: 0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/uUMsYzfIqQ
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.61% 🇬🇧GBP: 0.43% 🇳🇿NZD: 0.37% 🇯🇵JPY: 0.18% 🇨🇭CHF: -0.06% 🇨🇦CAD: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qChN4x7BRN
  • 🇷🇺 Inflation Rate YoY (JUL) Actual: 3.4% Expected: 3.4% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-06
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.04% France 40: -0.02% Germany 30: -0.07% FTSE 100: -0.09% US 500: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/1YBsxDGpxy
  • RT @realDonaldTrump: Upon departing the Oval Office for Ohio, I’ve notified my staff to continue working on an Executive Order with respect…
  • Heads Up:🇷🇺 Inflation Rate YoY (JUL) due at 16:00 GMT (15min) Expected: 3.4% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-06
  • Japanese #Yen Outlook: $USDJPY Rebounds Off Support- Recovery Levels - https://t.co/3Q9KuieaSE https://t.co/iMyJx8fBwL
  • House Speaker Pelosi says "we have to think big" regarding stimulus $DXY $SPX
  • Hey traders! Get your Thursday market highlighs from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/com5RRIcDN
DAX 30 & CAC 40 Charts – Levels, Lines to Contend With, but Trend Still Bullish

DAX 30 & CAC 40 Charts – Levels, Lines to Contend With, but Trend Still Bullish

2019-03-18 11:45:00
Paul Robinson, Strategist
Share:

DAX 30/CAC 40 Technical Highlights

  • DAX big-picture resistance won’t matter until bullish sequence is snapped
  • CAC hits trend-line, but bullish as long as impressive channel maintained

To see our intermediate fundamental and technical outlook for the DAX & Euro, check out the DailyFX Q1 Forecasts.

DAX big-picture resistance won’t matter until bullish sequence is snapped

On Friday, the DAX nudged to a new cycle high off the December low, but as discussed last week, big-picture resistance will continue to be an ordeal for the German benchmark to handle. From a macro technical standpoint, the neckline, March 2018 low, 200-day MA, and 2011 trend-line make this area right here, right now very big.

It’s the kind of retest of major thresholds, especially the neckline, that can end up becoming a major turning point. But while this may indeed be the case, and resistance is to be respected until broken, it won’t matter until the multi-month bullish sequence is snapped.

The loose channel is guiding the DAX higher, with the lower parallel acting as the key line of support to watch. This type of structure in the intermediate-term can help keep one of trouble when looking at long-term prospects.

As long as the lower line holds then the market is still pointed higher, however; break the channel and then the forces of the longer-term topping pattern can exert pressure on the market. Clear above resistance while staying within the channel and the drive higher may accelerate.

DAX Daily Chart (Resistance, but still bullish sequence)

DAX daily chart, resistance, but still bullish sequence

DAX Weekly Chart (Important big-picture spot)

DAX weekly chart, important big-picture spot

CAC hits trend-line, but bullish as long as impressive channel maintained

The rally off the December low has been an impressive one, with the CAC maintaining a trend within a very impressively narrow channel. The French index is up against a trend-line from May, which may cause a pullback here soon, but as long as the channel stays intact no good reason to be bearish. Even if the channel breaks it doesn’t mean the market will undergo major selling, but it will at the least warrant caution for longs.

CAC Daily Chart (T-line resistance, impressive bullish channel)

CAC daily chart, t-line resistance, impressive bullish channel

Want to learn more about trading the DAX? Check out ‘How to Trade the DAX’, and join me weekly for technical updates in the Indices and Commodities webinar.

Forex & CFD Trader Resources

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES

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.