DAX & CAC Technical Outlook at Record High Levels
04 Nov 2021 14:30, GMTWhat's on this page
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
CAC Daily Chart
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.