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