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DAX & CAC Technical Outlook at Record High Levels

DAX & CAC Technical Outlook at Record High Levels

Paul Robinson, Strategist

The DAX continues to trend into record territory. The outlook remains bullish within the confines of an upward channel as long as price stays above the lower parallel. There is a top-side trend-line running over from the spring that could have an impact on making further progress. The line doesn’t arrive until around 16400. The CAC is finally trading above the all-time high notched in 2000. Staying the course with a bullish outlook. It may not be a prudent idea though to chase, and instead wait for a small correction before joining the trend higher.

For the full set of details, please see the video above…

DAX Daily Chart

dax daily chart

DAX Chart by TradingView

CAC Daily Chart

cac daily chart

CAC Chart by TradingView

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---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.

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