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
EUR/USD
Bullish
Oil - US Crude
Bullish
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Kremlin says no plans to hold talks with Saudi Arabia ahead of OPEC+ monitoring committee next week #OOTT
  • 🇮🇪 Inflation Rate YoY (JUN) Actual: -0.4% Previous: -0.5% https://www.dailyfx.com/economic-calendar#2020-07-09
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.27% France 40: 0.12% US 500: 0.04% Wall Street: -0.14% FTSE 100: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/AQZYInLBRM
  • Heads Up:🇮🇪 Inflation Rate YoY (JUN) due at 10:00 GMT (15min) Previous: -0.5% https://www.dailyfx.com/economic-calendar#2020-07-09
  • Today, AUDUSD has made a fresh four-week high. Will the US jobless claims numbers today (13:30UK) boost the pair’s rally? #AUDUSD, #USD, #USunemployment https://t.co/athsKOjOe3
  • 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/y7RaX8tTqz
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/StR4PNnRmc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.94%, while traders in US 500 are at opposite extremes with 72.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Xc7k3Urhym
  • Heads Up:💶 Eurogroup Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-09
  • Have you been catching on your @DailyFX podcast "Trading lobal Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/woPxyB5zY6
DAX 30 & CAC 40 Momentum Stalling, Rising Risk of a Decline

DAX 30 & CAC 40 Momentum Stalling, Rising Risk of a Decline

2019-04-30 08:00:00
Paul Robinson, Strategist
Share:

DAX 30/CAC 40 Technical Highlights

  • DAX over trend-line resistance but price action weakening
  • CAC looks headed for a test of trend-line off December low

Fresh quarterly forecasts are out, to see where our team of analysts see the Euro, DAX, and other markets are headed in the coming weeks, check out the DailyFX Q2 Trading Forecasts.

DAX over trend-line resistance but price action weakening

Last week, the discussion was aimed towards the notion that extended prices favored a pullback soon. And despite having crossed over the trend-line off the record high the bias is still shaping up to favor a pullback, or at least shift risk far enough towards a pullback that it puts longs in a tenuous position.

Momentum has slowed to a crawl without any retracement, so if it is to happen is should do so very shortly here. If not, then one more push may take it up to a swing-high from September around the 12450-mark before putting in a trade-able ceiling for the DAX.

All-in-all, risk is that weakness this week looks to be in the cards. A drop below the trend-line off the 2018 high is anticipated. How any decline unfolds (strong or weak selling) will dictate whether to turn aggressive on short-term shorts or use it as a possible ‘dip-trip’ set-up for longs.

DAX Daily Chart (stalling, could fall back below t-line)

DAX daily chart, stalling, could fall back below t-line

CAC looks headed for a test of trend-line off December low

The CAC like the DAX is of course acting similarly. It is currently shelving itself on a support area formed by several peaks from last year, but a drop through 5538 should help accelerate downward momentum in the short-term.

This would then bring into play a test of the sharply angled trend-line off the December low and a pivotal spot for the market to either turn back higher from or fail and bring in more sellers.

CAC Daily Chart (watching for test of December t-line)

CAC daily chart, watching for test of December t-line

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.