GER 40 weekly special report based On 1.00 Lot Calculation:
● EVENT: Eurozone, Consumer Price Index, Thursday, Aug 31, 2023. Inflation in the EU continues to slow down. Since November 2022 until Aug 20, 2023, inflation fell from 10.6% to 5.3%. If this trend continues, European Central bank could reconsider to pause its restrictive monetary policy hence to pause further interest rate hikes.
●EVENT: European Central Bank, Interest rate decision, Thursday, Sep 14, 2023. Current European Central Bank benchmark interest rate stands at 4,25%. Further increases will be affected by the economic data that comes from the EU.
●CORRELATION BETWEEN GER40 AND US500: Sentiment in the U.S. is having a strong influence on GER40. According to Bloomberg, correlation between GER40 and US500 is 0.4456, which implies that U.S. sentiment reflects on the German stock market.
●TECHNICAL ANALYSIS: The stochastic oscillator on the daily graph indicates that this financial instrument may be entering an oversold zone.
#GER 40, August 29, 2023
Current Price: 15,800.00
|
GER40 |
Weekly |
|
Trend direction |
|
|
16,500.00 |
|
|
16,300.00 |
|
|
16,100.00 |
|
|
15,500.00 |
|
|
15,300.00 |
|
|
15,100.00 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
7,567.07 |
5,405.05 |
3,243.03 |
-3,243.03 |
-5,405.05 |
-7,567.07 |
|
Profit or loss in €² |
7,000.00 |
5,000.00 |
3,000.00 |
-3,000.00 |
-5,000.00 |
-7,000.00 |
|
Profit or loss in £² |
6,011.34 |
4,293.81 |
2,576.29 |
-2,576.29 |
-4,293.81 |
-6,011.34 |
|
Profit or loss in C$² |
10,308.32 |
7,363.08 |
4,417.85 |
-4,417.85 |
-7,363.08 |
-10,308.32 |
1. 1.00 lot is equivalent of 10 units
2. Calculations for exchange rate used as of 13:11 (GMT+1) 29/08/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more details