GER 40 Index Weekly Special Report based on 1.00 Lot Calculation:
- The GER40 index represents the DAX 40 index in Germany, which includes companies such as Adidas, Bayer, Daimler, Deutsche Bank, Siemens, BMW, E.ON and etc. In essence, the index includes the most valuable and advanced companies in Germany, the largest economy in Europe.
- EVENT (THURSDAY, OCTOBER 17, 2024, 13:15 GMT+1): EUROPEAN CENTRAL BANK (ECB) INTEREST RATE CUT DECISION. The decision will be followed by a press conference at 13:45 GMT+1. The ECB cut its benchmark interest rate in September from 4.25% to the current 3.65%, and investors expect the ECB could continue with their rate cutting cycle on. The benchmark interest rate in the Eurozone is now expected to be slashed to at least 3.40% from the current 3.65% (marking a cut of at least 0.25% points). If the ECB does decide on an interest rate cut, this could push the GER40 higher as borrowing costs for businesses could become lower and therefore allow for the economy to grow and expand.
- STATISTICS: THE GER40 INDEX PRICE ROSE 3.85% WITHIN A WEEK AFTER THE SEPTEMBER INTEREST RATE CUT BY THE ECB. The German index rose after the European Central Bank decided to cut its benchmark rate in September, which was its second cut after the one in June 2024.
- EUROZONE INFLATION: 1.8%. Inflation in the Eurozone in August fell to 1.8% from previous 2.2%. This is below the ECB target of 2.00%. If the trend continues on, the ECB could become more confident in its interest rate cut cycle, which could in return, further provide support to the European stock market.
- GER40 INDEX HIT AN ALL- TIME HIGH OF 19,736.0 (OCTOBER 15, 2024). Most recent interest rate cuts in the Eurozone have supported the GER40 index positively as the index managed to rise to fresh all- time highs after the interest rate cut cycle in the Eurozone began on June 6, 2024.
GER40, October 15, 2024
Current Price: 19,704
|
GER40 |
Weekly |
|
Trend direction |
|
|
21,000 |
|
|
20,500 |
|
|
20,100 |
|
|
19,400 |
|
|
19,200 |
|
|
19,100 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
GER40 |
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|
Pivot Points |
||||||
|
Profit or loss in $ |
14,119.40 |
8,672.10 |
4,314.26 |
-3,311.96 |
-5,490.88 |
-6,580.34 |
|
Profit or loss in €² |
12,960.00 |
7,960.00 |
3,960.00 |
-3,040.00 |
-5,040.00 |
-6,040.00 |
|
Profit or loss in £² |
10,818.43 |
6,644.65 |
3,305.63 |
-2,537.66 |
-4,207.17 |
-5,041.92 |
|
Profit or loss in C$² |
19,495.36 |
11,974.00 |
5,956.92 |
-4,572.99 |
-7,581.53 |
-9,085.80 |
- 1.00 lot is equivalent of 10 units
- Calculations for exchange rate used as of 8:30 (GMT+1) 15/10/2024
There is a possibility to use Stop-Loss and Take-Profit
- You may wish to consider closing your position in profit, even if it is lower than the suggested one.
- Trailing stop technique could protect the profit