NEWS: GER40 price is falling by 0.7% hitting its lowest level in six days after reaching a record high last week. The decline is being driven mainly by weak earnings from heavyweight stocks such as SAP, which have dragged the broader index lower and triggered profit-taking across German equities.
Possible Scenarios:
If GER40 fails to breach through S1 of 24546.76, our Research Department expects the GER40 to undergo a short- term upward correction.
If GER40 manages to break below its S1 of 24546.76, our Research Department expects the GER40 to extend its losses to its S2 of 24487.33
Support and Resistance Levels:
|
GER40 |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
24427.90 |
24487.33 |
24546.76 |
24626.00 |
24705.24 |
24764.67 |
24824.10 |
Potential Profit or Potential Loss Calculations:
|
10 points per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
|
(+/-) $119.41 |
(+/-) €100 |
(+/-) £72.55 |
|||
*1 trading lot is equivalent of 10 units
**EUR/USD = 1.19409
***GBP/USD = 1.37837
Calculations for exchange rate used as of Thursday, January 29, 2025, 11:10 GMT