NEWS: GER40 price increased 0.6% after Germany reported higher than expected Industrial Production numbers.
Possible Scenarios:
If GER40 fails to breach through R2 of 18545.51, our Research Department expects the GER40 to undergo a short- term downward correction.
If GER40 manages to break above its R2 of 18545.51, our Research Department expects the GER40 to extend its gains to its R3 of 18600.58.
Support and Resistance Levels:
GER40 |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
18233.42 |
18288.49 |
18343.57 |
18417.00 |
18490.43 |
18545.51 |
18600.58 |
Potential Profit or Potential Loss Calculations:
10 points per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $108.32 |
(+/-) €100 |
(+/-) £79.21 |
*1 trading lot is equivalent of 10 units
**EUR/USD = 1.08318
***GBP/USD = 1.26254
Calculations for exchange rate used as of Monday, April 8, 2024, 09:00 GMT+1