NEWS: GER40 price is increasing 1.3% as German Composite PMI (Dec) and German Services PMI (Dec) data released today with better than expected results.
Possible Scenarios:
If GER40 fails to breach through R1 of 20336.24, our Research Department expects the GER40 to undergo a short- term downward correction.
If GER40 manages to break above its R1 of 20336.24, our Research Department expects the GER40 to extend its gains to its R2 of 20391.92
Support and Resistance Levels:
GER40 |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
20076.40 |
20132.08 |
20187.76 |
20262.00 |
20336.24 |
20391.92 |
20439.60 |
Potential Profit or Potential Loss Calculations:
10 points per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $104.01 |
(+/-) €100 |
(+/-) £79.8 |
*1 trading lot is equivalent of 10 units
**EUR/USD= 1.04015
***GBP/USD= 1.25320
Calculations for exchange rate used as of Monday, January 6, 2025, 11:35 GMT