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GER30

Market Opportunities - 23/08/2021

23 August, 2021

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 opportunity for 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.

GER30 weekly upward opportunity based On 1.00 Lot Calculation:

  • EVENT: (Tuesday, August 24 at 7:00 am GMT+1) - Germany’s final GDP for Q2 will be released, which is expected to confirm its preliminary estimate of annual growth of 9.6%;
  • EVENT: (Wednesday, August 25 at 9:00 am GMT+1) - German Manufacturing PMI for August will be released. It is expected to be slightly lower than last month (100.4 vs 100.8). The index measures the activity level of purchasing managers in the German manufacturing sector;
  • The German stock index is in a strong uptrend that may continue.

GER 30, August 23, 2021
Current Price: 15,800

GER30

Weekly

Trend Direction

UP

Resistance 3

16,250

Resistance 2

16,100

Resistance 1

15,970

Support 1

15,640

Support 2

15,520

Support 3

15,390

Example of calculation based on weekly trend direction for 1.00 Lot*

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss Short in $

5,278

3,518

1,994

-1,876

-3,284

-4,808

Profit or loss Short in €**

4,500

3,000

1,700

-1,600

-2,800

-4,100

Profit or loss Short in £**

3,865

2,577

1,460

-1,374

-2,405

-3,521

Profit or loss Short in C$**

6,720

4,480

2,539

-2,390

-4,182

-6,123

* 1.00 lot is equivalent of 10 units
** Calculations for exchange rate used as of 10:40 am (GMT+1) 23/8/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details

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