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
  • The US Dollar could lose some ground against ASEAN currencies such as the Singapore Dollar and Thai Baht amid slowing Emerging Asia Covid case growth. Softer US NFPs may also bode well.Get your market update from @ddubrovskyFX here:
  • This week's non-farm payrolls (NFP) will likely be key to gauge the direction of gold as markets look ahead to the Jackson Hole Economic Symposium. Get your market update from @FxWestwater here:
  • Will be discussing the Japanese #Yen and what you can expect throughout this week in about 15min! Signup for the webinar in the link below!
  • Please join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here:
  • RT @FxWestwater: $NZDUSD Wedge Breakout Back in Play on Stellar Q2 Jobs Report Link:
  • 🇦🇺 Markit Services PMI Final (JUL) Actual: 44.2 Previous: 56.8
  • $AUDNZD likely to attempt closing at a new 2021 low over the remaining 24 hours following the stellar New Zealand jobs report The December 2020 low has been further exposed at 1.0418 since July's #RBNZ rate decision New Zealand bond yields on the rise
  • Strong jobs report lifts $NZD - Money markets pricing in a 93% probability of a 25bps hike at the August meeting (previously 77%) - Over the forecast horizon, the RBNZ had projected (in the May MPS) the unemployment rate to gradually fall to 4.3%
  • #NZDUSD cautiously higher after solid New Zealand jobs report Unemployment rate declined to 4.0% in Q2 from 4.7% prior (vs 4.4% anticipated) Job gains were at 1.7% y/y vs 1.2% expected Data seems to be supporting the case for a less-dovish #RBNZ given the cease to QE recently
  • 🇳🇿 Unemployment Rate (Q2) Actual: 4% Expected: 4.5% Previous: 4.7%
DAX 30 & CAC 40 Technical Outlook Remains Weak

DAX 30 & CAC 40 Technical Outlook Remains Weak

Paul Robinson, Strategist

DAX 30/CAC 40 Technical Highlights

  • DAX not garnering much buying interest off support
  • CAC a little stronger, but not much

For fundamental and technical forecasts, trade ideas, and educational guides, check out the DailyFX Trading Guides page.

DAX not garnering much buying interest off support

The DAX 30 has done little in the way to inspire buyers off the 200-day MA, with the bounce failing after only a couple of days. That brings us to today where a probe below the monthly low took place this morning.

At this juncture, the “bullish” scenario is for a bounce to keep the DAX generally moving sideways – a congestion pattern to form as a result. This is seen then as eventually leading to another leg lower towards the March low right around 11300 or worse.

The head-and-shoulders scenario discussed the other day could form if this plays out, but will require some good horizontal price action to do so in order to make for a solid right shoulder. In any event, it looks like lower levels are to come one way or another. This should keep the path of least resistance in favor of shorts on bounces.

DAX 30 Daily Chart (Not much bounce off support)

DAX 30 & CAC 40 Technical Outlook Remains Weak

DAX Chart by Tradingview

CAC a little stronger, but not much

The CAC isn’t quite as weak as the DAX, but looks to be in trouble nevertheless. There may be some more retracement of the down-move from the July high, with the recent low at 5226 in confluence with the 200-day MA as a short-term line-in-the-sand. Below there the June low will come into focus as the next level of support.

CAC 40 Daily Chart (watch 200-day, recent low)

DAX 30 & CAC 40 Technical Outlook Remains Weak

CAC 40 Chart by Tradingview

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.