GER40 price is falling -0.9%

Fast Moving Market - 24/07/2024

24 July, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: GER40 price is falling -0.9% in response to the appearance of Christine Lagarde, president of the European Central Bank, which will take place tomorrow 25/07/2024, and could have an impact on the euro.

Possible Scenarios:

If GER40 fails to breach through S1 of 18285.48, our Research Department expects the GER40 to undergo a short- term upward correction.

If GER40 manages to break below its S1 of 18285.48, our Research Department expects the GER40 to extend its losses to its S2 of 18212.34

Support and Resistance Levels:

GER40	S3	S2	S1	Reference Price	R1	R2	R3
GER40	18139.20	18212.34	18285.48	18383.0	18480.52	18553.66	18626.80

Potential Profit or Potential Loss Calculations:

10 points per 1 trading lot*			USD	EUR**	GBP***
10 points per 1 trading lot*			(+/-) $108.36	(+/-) €100	(+/-) £77.55

*1 trading lot is equivalent of 10 units
**EUR/USD= 1.08359
***GBP/USD= 1.28949
Calculations for exchange rate used as of Wednesday, July 24, 2024, 09:45 (GMT+1)

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