August 7th – 12th Trading Levels – DAX and CAC40 (European Index) - Forex News by FX Leaders

August 7th – 12th Trading Levels – DAX and CAC40 (European Index)

Posted Monday, August 7, 2017 by
Arslan Butt • 1 min read

When looking at the DAX & CAC, we need to study the single currency Euro as well. Looking ahead to this week, the fundamental side is lacking in ‘high’ impact news. The focus remains on how the single currency reacted to last week’s reversal, wiping out four days of gains due to the highly optimistic labor market figures.

As a result, the German and French Indices edged higher as the buying was amplified due to weakness in the Euro. This will certainly be a factor worth keeping an eye on in the week ahead. Let's take a look at weekly trading levels for the DAX (German Index) & CAC (France Index). Additionally, refer to FX Leader support and resistance trading strategy article in order to learn how to trade below levels more profitably.

DAX – Weekly Trading Levels

Support            Resistance

S1: 12140.51        R1: 12324.71

S2: 12083.61       R2: 12381.61

S3: 11991.51       R3: 12473.71

Key Trading Level: 12232.61

CAC40- Weekly Trading Levels

Support             Resistance   

S1: 5114.55        R1: 5219.98

S2: 5081.98       R2: 5252.55

S3: 5029.26       R3: 5305.26

Key Trading Level: 5167.26

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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