Weekly Support & Resistance Levels – DAX & CAC (European Indices) - Forex News by FX Leaders

Weekly Support & Resistance Levels – DAX & CAC (European Indices)

Posted Wednesday, August 23, 2017 by
Arslan Butt • 1 min read

The European indices are consolidating in narrow ranges, mostly in a bearish trend. The German stock market index, DAX, hasn't been able to cover much and has been holding near $12250 for a long time.

Technically on the daily timeframe, I'm seeing good potential for sell. With this in mind, I have placed my sell limit at $12300 to target $12200, but I will not enter the market until the DAX reaches my entry-level.

Let's take a look at weekly trading levels for the DAX (German Index) & CAC (France Index). Also, feel free to refer to the FX Leader support and resistance trading strategy article for tips on how to trade below levels profitably.

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: 5163.70

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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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