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
Wall Street
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
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
More View more
Real Time News
  • Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. Uranium is on a massive surge, aided by the famous Wall Street Bets group. Get your market update from @FxWestwater here:
  • The Australian Dollar has retraced from August lows when looking at AUD/JPY and AUD/CAD. However, the AUD/NZD downtrend is intact, will a reversal there appear as well? Find out:
  • PBOC injects net 90 billion Yuan in open market operations - Yuan reference rate set at 6.4526 per USD - BBG
  • Australia to trial home quarantine for arrivals who are vaccinated - BBG
  • The S&P 500, Dow Jones and DAX 30 could be at risk of falling as retail traders continue increasing their upside exposure in these indices. What are the key technical levels to watch for? Find out from @ddubrovskyFX here:
  • RT @FxWestwater: New Zealand Dollar Outlook: $NZDUSD Drops on US Dollar Bids, Wall Street Losses Link: https://t.c…
  • The US Dollar continues to hold its ground against most ASEAN currencies as recent downtrends lose momentum. What is the road ahead for USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:
  • 🇳🇿 Business NZ PMI (AUG) Actual: 40.1 Previous: 62.6
  • The Canadian Dollar has been caught in broad ranges against the Euro and the US Dollar, but can the upside bias in USD/CAD and EUR/CAD prolong? Find out here:
  • RT @BrendanFaganFx: Bitcoin Outlook: Crypto Adoption to Become Widespread in Wake of El Salvador, AMC? #Bitcoin #Ethereum $AMC $BTCUSD $ET…
DAX and CAC Technical Outlook: Trying to Steady for a Rally

DAX and CAC Technical Outlook: Trying to Steady for a Rally

Paul Robinson, Strategist

DAX/CAC Technical Highlights:

  • DAX broke March 2020 trend-line but overall looks to be correcting
  • CAC is hanging steady, triangulating towards the apex of a wedge

DAX and CAC Technical Outlook: Could be Steadying for a Rally

Last week, the DAX broke down with a fair amount of momentum and in the process it got some separation from the March 2020 trend-line. But as we’ve stated before, breaking a trend-line doesn’t mean the trend has changed, it simply means the trend may be changing.

With that said, since the breakdown took place last week we are seeing the DAX make a comeback, which is starting to have the price path since the August 13 take on the shape of a bull-flag. With a little more time this could lead the German benchmark back to new record highs.

If, however, the current recovery were to fail here soon, then we could be in for validation of the March 2020 trend-line break. If this is the case, then a trend change could indeed be in order and a larger set-back could be underway.

From a tactical standpoint, would-be longs may be best served sitting on the sidelines and seeing if a better-looking bull-flag can form before taking on long exposure. For those who think we are in the process of seeing a trend change, then this bounce may be an opportunity to establish bearish exposure. The thinking on this end, where bearish or bullish, is to be patient and wait for a little more price action to better clarity before taking action.


DAX Daily Chart

dax daily chart

DAX Chart by TradingView

The CAC broke hard during the middle of last month, but since then it has been bobbling around and offering few directional cues. Overall, though, it is holding up relatively well given how hard the sell-off was. It’s not a great-looking wedge, but one has been forming over the past month.

This could lead to some resolution here soon. If the CAC can break above 6784, the upward trend may resume back towards the August high at 6913 and the 2000 record high at 6944. On the flip-side, a breakdown below 6605 would have the January trend-line in play along with the low of August at 6560. This would be an important spot for the market to hold if it is to remain neutral to bullish.

CAC Daily Chart

cac daily chart

CAC 40 Chart 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.