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
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • 9 out of 11 S&P 500 sectors ended lower, with 79.2% of the index’s constituents closing in the red. Energy (-2.63%), industrials (-1.47%) and financials (-1.34%) were among the worst performers, whereas real estate (+0.17%) outperformed. https://t.co/j9VI9UQc7N
  • Gold Price Forecast: XAU/USD Bid on Weak Dollar, Softer Yields -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/market_alert/2021/05/18/gold-price-forecast-xau-usd-bid-on-weak-dollar-softer-yields.html $XAUUSD $GLD $GC_F https://t.co/Cs94yiNhfI
  • The US Dollar is losing ground against a few ASEAN counterparts. USD/SGD, USD/IDR and USD/PHP seem to be maintaining a downside bias. USD/THB may rise. Get your market update from @ddubrovskyFX here:https://t.co/I2oeWXMFLc https://t.co/C49ElPMI7l
  • Treasury Sec. Yellen: - Investments and tax proposals in "Jobs Plan" will enhance net profitability of corporations, improve global competitiveness - These are investments to make the economy more competitive and sustainable
  • Treasury Sec. Yellen: - Corporate sector must bear its fair share, plan to return corporate tax toward the historical norm - We will target incentives for companies to move funds, operations overseas
  • Treasury Sec. Yellen: - We must improve public R&D to maintain America's technological edge - We must build support systems to improve quality of life and opportunities for those most impacted by wealth inequality
  • Treasury Sec. Yellen: - We must reorient the framing of US fiscal policy - Poor US fiscal policy has meant infrastructure wasn't maintained or modernized
  • Treasury Sec. Yellen: - Innovation required from public & private sector to improve the economy - We must invest in public infrastructure and institutions that drive productivity
  • Treasury Sec. Yellen: - Wage gains and profits have benefitted the top families in America - Middle class families have faced wage stagnation
  • Bitcoin lower for the 4th consecutive day, but crucially held above $42,000 #BTC #Bitcoin $BTCUSD https://t.co/buRKsUDgzR
DAX 30, CAC 40 Lost in Ranges, Resistance Lies Ahead

DAX 30, CAC 40 Lost in Ranges, Resistance Lies Ahead

Paul Robinson, Strategist

DAX 30 / CAC 40 Technical Highlights

  • DAX 30 still trying to fill the coronavirus gap
  • CAC 40 much weaker, caught in choppy price action

DAX 30 still trying to fill the coronavirus gap

The DAX chart isn’t particularly pretty, but still has a modest (very modest) upward bias to it as it continue to try and fill the coronavirus gap from February 24. The turn down on July 21 shows the difficulty this gap presents, but it seems like at some point it will get filled as long as global markets (in the particular the U.S.) keeps a bid.

To fill the gap up to 13579, the DAX needs to trade on through 13313 first. A gap-fill will have the market very near the 13795 record high. On the flip-side, should the DAX remain sluggish and unable to rise into the gap, then we could see a move back towards the 200-day at 12208. It is relatively aligned with the July 30 low at 12253.

Overall, trading conditions aren’t ideal at the moment and in the absence of a significant catalyst we may continue to see slow price action until we move past August, traditionally a slow month for markets.

DAX Daily Chart (still stuck below coronavirus gap)

DAX daily chart

DAX Charts by TradingView

CAC 40 much weaker, caught in choppy price action

The CAC hasn’t gone anywhere since early June, trading sideways as it remains mired by resistance of several forms. The June/August 2019 lows were an issue in June and July of this year. There is also a trend-line running down from February that is in the way at the moment. In confluence with the summer highs is he 200-day MA, so a lot for the CAC to get through if it is to keep rising. On the downside there is support around 4800 should we see weakness from here. For now, standing aside until the picture clears up.

CAC 40 Daily Chart (stuck in a range)

CAC 40 daily chart

CAC 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 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