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
Bullish
Wall Street
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
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.92%, while traders in France 40 are at opposite extremes with 78.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/hMrnFoyKoF
  • Fed's Daly: - Frequency of Fed's market interventions is concerning - Fed market interventions are costly
  • Fed's Daly: - It is important to keep financial infrastructure secure and sound - The growth of financial tech is related to potential risks
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.94% Wall Street: 0.71% FTSE 100: 0.06% Germany 30: 0.05% France 40: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NobIiK9488
  • Heads Up:🇺🇸 Fed Daly Speech due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-15
  • The Australian Dollar breakout is now approaching initial uptrend resistance objectives. Get your $AUD market update from @MBForex here:https://t.co/UlLe9H2Yei https://t.co/Woh0xfrZqh
  • #Gold is remaining stronger today amidst a pullback in US Treasury yields. The metal rose to a month and a half high around 1,770 and is now currently trading around 1,765. $XAU $GLD https://t.co/ct7hfsY3rl
  • US 10yr yields have continued to decline today, now trading below the 1.55% level, at a five week low. $USD https://t.co/oBIG5S9GIc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.43%, while traders in Wall Street are at opposite extremes with 75.26%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Z4rveKKbMs
  • Bitcoin rushed up to another fresh all-time-high yesterday as the Coinbase IPO was taking markets by storm. Get your $btc market update from @JStanleyFX here:https://t.co/Adn9H2fqHs https://t.co/sGZi273oVZ
DAX 30 Record Highs, CAC 40 Working on Coronavirus Gap-fill

DAX 30 Record Highs, CAC 40 Working on Coronavirus Gap-fill

Paul Robinson, Strategist

DAX/CAC Technical Highlights:

  • DAX out of consolidation into record territory
  • CAC working on filling the February 2020 gap
Advertisement

As we were discussing last week, European stocks were demonstrating relative strength compared to the U.S. markets, especially versus the tech-heavy Nasdaq. The DAX was consolidating with a break below 13653 needed to turn the outlook from neutral to bearish.

With yesterday’s powerful breakout the DAX is looking to stay in record territory. As long as U.S. stocks don’t completely fall apart, Europe can continue to head higher. A rapid deterioration in the S&P 500 and broad risk sentiment, though, will almost certainly put a hold on the advance, if not worse.

A pullback to the top of the recent congestion phase may present would-be longs with a decent risk/reward opportunity to enter in the direction of the prevailing trend. The support zone to watch is 14200/150.

As far as how high the DAX can run, it’s hard to say. If general risk appetite improves then the rally could grow serious legs. If we see a somewhat subdued appetite by market participants to take risk, then look for the rally to potentially be a grind.

It will take some strong downward price action to turn the outlook from neutral/bullish to outright bearish.

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

DAX Daily Chart (looking to sustain record high breakout)

DAX daily chart

DAX Charts by TradingView

The CAC 40 is in the February 2020 gap, and on that it is seen as likely to fill it up to 6031. Should that fill, it won’t take much to etch out the best levels since 2007. The 2020 high is at 6111 followed by the 2007 high at 6168.

To turn the outlook bearish a breakdown below the late October trend-line is needed. The importance of this trend-line just grew a little bit more last week when it was touched and held as support for the second time in the past two weeks.

CAC Daily Chart (in 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