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.

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
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
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/bpKdIqGxsn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/jmcAIW4w5k
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/M9isuvnzqF
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here: https://t.co/6Ct5R0H41F https://t.co/c4rXmMjMrv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/4dhCP5pnxM
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here: https://t.co/kLXZewWBMd https://t.co/w1Nu0z569m
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/Gn41XsGktg
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/2AR1qgx0tz
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here: https://t.co/5rjm2gr3EL https://t.co/aLwhWHMPqz
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/obH0RFLKhC
DAX 30, CAC 40 Technical Analysis: Looking Positive as Risk Trends Firm Up

DAX 30, CAC 40 Technical Analysis: Looking Positive as Risk Trends Firm Up

Paul Robinson, Strategist

DAX/CAC Technical Highlights:

  • DAX poised to make a run at new record highs soon
  • CAC eying a gap-fill from the massive Feb 2020 decline
Advertisement

Last week, the DAX was coming off a bit as risk trends weakened, but as it was said at the time the selling didn’t appear too meaningful. But with further selling in U.S. markets that would have likely changed, however; the firming up in the states puts that notion at bay and has general conditions firmed up.

And when looking to Europe, stocks are a bit more than buoyed with the DAX looking towards a new record high on a crossing of 14169, and the CAC is currently trading at its best levels since last year’s meltdown. The DAX might not power higher in a meaningful way, but the trading outlook is bullish.

To turn the picture negative, a breakdown from the recent consolidation will be needed. This will require a drop below 13664 on a daily closing basis. Should this happen then it is likely risk trends as a whole are souring again.

Equities Forecast
Equities Forecast
Recommended by Paul Robinson
Check out the Q1 Stock Market Forecast
Get My Guide

DAX Daily Chart (near a breakout to a new record)

DAX daily chart

DAX Charts by TradingView

The CAC is trading at its best levels since the meltdown days of a year ago. This has the big Feb 24 gap-down in focus from 5875 up to its fill point at 6029. Should that fill a breakout could soon develop to the best levels since 2007. The level to cross is 6111 before testing the 14-year high at 6168.

As is the case with the DAX, to turn the picture bearish a break lower that undermines the recent consolidation period will be needed. To achieve this we will need to see a decline below 5688.

CAC Daily Chart (looking to fill corona-gap)

cac daily chart

CAC 40 Charts by TradingView

Resources for Forex Traders

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