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.

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
More View more
Real Time News
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/UgYlEILK5n
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/BXp2z6E0Kl
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/xGuTYZqYwh
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/EvRHfRQLgk
  • The Australian Dollar remains vulnerable in the week ahead, eyeing risks such as a dovish RBA, surging Covid cases and recent crackdowns by Beijing. Might US NFPs offer some relief to AUD/USD? Get your weekly AUD forecast from @ddubrovskyFX here: https://t.co/LQzQymM3ND https://t.co/XOCJl3vbu1
  • $AUDNZD closed at its lowest since December 2020 Prices pierced the 1.0541 - 1.0564 support zone, exposing the November low at 1.0418 A confirmatory downside close under support next week may open the door to further losses #AUD #RBA https://t.co/mybbgPHNX4
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/k49UosZOUR
  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/rVBKBuhhAb https://t.co/lTT6oelIEc
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/JTw3w7KYXP
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.10% 🇪🇺EUR: -0.15% 🇯🇵JPY: -0.18% 🇬🇧GBP: -0.39% 🇳🇿NZD: -0.56% 🇦🇺AUD: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/a8XYJHybtN
DAX 30, CAC 40, FTSE 100 Outlook Could Quickly Turn South

DAX 30, CAC 40, FTSE 100 Outlook Could Quickly Turn South

Paul Robinson, Strategist

Indices Highlights:

  • DAX 30 still building ascending wedge pattern
  • CAC 40 treading on trend-line, could break down soon
  • FTSE 100 starting to roll over, could test low soon

DAX 30 still building ascending wedge pattern

The DAX continues to hold up, but is also working on a potentially bearish ascending wedge formation. It’s been the strongest of the major European averages, so if it starts to roll over the others may do-s0 at a faster rate (looking at you, CAC 40).

The ascending wedge pattern won’t fully trigger until it develops a bit more and price crosses the rising underside trend-line. A breakdown would have recent gaps in mind to be filled; 10069 and 9527 would be the first up.

But for now, as long as the DAX stays above the lower trend-line then the trend still remains pointed upward in the near-term, and could still bring gap-fills over 11k into play on further strength. A resolution one way or another appears to be nearing.

DAX Daily Chart (ascending wedge forming)

DAX daily chart

DAX Chart by TradingView

CAC 40 treading on trend-line, could break down soon

The CAC is running weaker than the DAX right now, having still yet been able to climb above the March high. With that in mind, should global markets come under pressure here soon, the CAC is likely to break at a faster rate than other indices. A break of the rising trend-line off last month’s low will have 4143 quickly into focus, but a retest of the capitulation lows at 3632 could very well be in order.

CAC 40 Daily Chart (teetering on trend-line break)

CAC daily chart

CAC Chart by TradingView

FTSE 100 starting to roll over, could test low soon

The FTSE 100 has broken the trend-line rising up from last month, and on that it is positioned even weaker than the CAC. The 5351 swing-low may be next up, but a retest of the 4898 low may soon be in order. It is possible a higher-low forms here, still, but price needs to turn higher soon else run the risk of seeing the FTSE sell off.

FTSE 100 Daily Chart (at risk of retest soon)

FTSE 100 daily chart

FTSE 100 Chart by TradingView

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