August 2nd – Trading Levels, DAX and CAC40 (European Index)
In the past, the US & European stock markets used to move in tandem due to the positive correlation but now they are trading in opposite directions. DJIA and S&P500 are placing all time highs, while the DAX & CAC are in trouble.
Nevertheless, both of the European indices have always traded as per our trading levels. Now let's take a look at weekly trading levels for the DAX (German Index) & CAC (France Index). In addition, refer to FX leader support and resistance trading strategy article for better understanding of trading levels.
DAX – Weekly Trading Levels
Support Resistance
S1: 12185.17 R1: 12555.79
S2: 12670.27 R2: 12670.27
S3: 12855.58 R3: 12855.58
Key Trading Level: 12370.48
CAC40- Weekly Trading Levels
Support Resistance
S1: 5103.07 R1: 5224.32
S2: 5065.62 R2: 5261.77
S3: 5005 R3: 5322.40
Key Trading Level: 5147.70
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