Waiting on a CAC 40 Breakout

Waiting on a CAC 40 Breakout

Waiting on a CAC 40 Breakout soon.

The CAC 40 the benchmark of the French stock market index and closely linked to the German DAX and Euro data.

It’s currently wedges in between the areas of Buyers and Sellers who are dug in not prepared to give an inch, with a small area of breathing space to gather momentum for an expected breakout

The French shares have been moving higher so we believe this may be a breakout overpowering the sellers at around the 5505 area and continue to an upward trend and benefit our trade.

However it does appear that price is moving in to a triangle trend line so price may get squeezed by the pressure of the Bulls and the Bears before the CAC 40 Breakout is achieved.

Who’s going to blink first?

CAC 40 Breakout

(Our trading and image was done using an account with UK based broker IG)

*Please Note, Forex and other forms of trading carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 


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