Germany 30 (DE30EUR) Retraces but May Find Support Above Level 13912.50

Germany 30 (DE30EUR) Retraces but May Find Support Above Level 13912.50

key Resistance Zones: 15000, 15200, 15600
Key Support Zones: 11200, 10800, 10400

Germany 30 (DE30EUR) Long-term Trend: Bullish
Germany 30 is retracing to level 13400. After retracement, the uptrend will resume. A retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the index will rise and reach level 1.272 Fibonacci extensions or level 14428.0. A candlestick is indicating a long wick, describing the rejection.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index has risen to level 59 of the Relative Strength Index period 14. It indicates that it is in the uptrend zone above the centerline 50.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 2- hour chart, the index is in a downward move. On February 2 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DE30EUR will fall to level 2.0 Fibonacci extensions. That is the low of 13912.50.

DE30EUR – 2 Hour Chart

4-hour Chart Indicators Reading
The market is below the 80% range of the daily stochastic. It indicates that the index is in a bearish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.

General Outlook for Germany 30 (DE30EUR)
DE30EUR is in an uptrend but it is retracing. The upward move will resume when the index finds support. According to the Fibonacci tool, the market will decline to level 13912.50.


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Germany 30 (DE30EUR) Retraces to Level 13400, Resumes a Fresh Uptrend

Germany 30 (DE30EUR) Retraces to Level 13400, Resumes a Fresh Uptrend

key Resistance Zones: 15000, 15200, 15600
Key Support Zones: 11200, 10800, 10400

Germany 30 (DE30EUR) Long-term Trend: Bullish
Germany 30 is in an upward move after retracing to level 13400. A retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the index will rise and reach level 1.272 Fibonacci extensions or level 14428.0. The market will reverse at the 1.272 Fibonacci extensions and return to the 78.6% retracement level.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index has fallen to level 49 of the Relative Strength Index period 14. This indicates that there is a balance between supply and demand.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is in a rally. On February 1 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DE30EUR will rise to level 1.272 Fibonacci extensions. That is the high of 13726.70.

DE30EUR – 1 Hour Chart

1-hour Chart Indicators Reading
The market is above the 80% range of the daily stochastic. It indicates that the index is in a bullish momentum and it is in the overbought region. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.

General Outlook for Germany 30 (DE30EUR)
DE30EUR is in an upward move. The market has earlier fallen to level 13400 and resumed an upward move. According to the Fibonacci tool, the market will reach a high of level 14428 and reverse.



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Germany 30 (DE30EUR) Uptrend Is Facing an Uphill Task to Break Level 14000

Germany 30 (DE30EUR) Uptrend Is Facing an Uphill Task to Break Level 14000

Key Resistance Zones: 12800, 13200, 13600
Key Support Zones: 11600, 11200, 10800

Germany 30 (DE30EUR) Long-term Trend: Bullish
Germany 30 is currently in an upward move. The uptrend is facing resistance at level 14000. On January 18, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the index will rise and reach level 2.0 Fibonacci extension. That is the high of level 14549.60.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
DE30EUR is currently at level 54 of the Relative Strength Index period 14. The index is in the uptrend zone and above the centerline 50. This implies that the index is rising. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is in a sideways move below level 14000. On January 19 upward move, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the index will rise and reach level 2.0 Fibonacci extension. That is the high of level 14225.50.

DE30EUR -4 Hour Chart

4-hour Chart Indicators Reading
Germany 30 is currently below 80% range of the daily stochastic. The price is retracing from the overbought region. Sellers may likely emerge in at overbought region. The SMAs are sloping upwards indicating an uptrend.

General Outlook for Germany 30 (DE30EUR)
Germany 30 is now in a bull market. The index is preparing for an upward move if the bulls break level 14000. The index is likely to rise as bulls break above the SMAs. The current upward move is likely to reach level 14225.50.



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Germany 30 (DE30EUR) Resumes Uptrend After a Minor Retracement Level 13750

Germany 30 (DE30EUR) Resumes Uptrend After a Minor Retracement Level 13750

key Resistance Zones: 13600, 14000, 14400
Key Support Zones: 11200, 10800, 10400

Germany 30 (DE30EUR) Long-term Trend: Bullish
Germany 30 is in an upward move. The upward move reaches the high of level 14011 and is pulled back. The index pulled back above the 21-day SMA support and it has resumed a fresh uptrend.

DE30EUR – Daiy Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index has fallen to level 63 of the Relative Strength Index period 14. This indicates that it is in the uptrend zone and above the centerline 50.

Germany 30 (DE30EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an upward move. On January 8 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DE30EUR will rise to a level of 1.618 Fibonacci extensions. That is the high of 14473.10.

DE30EUR – 4 Hour Chart

4hour Chart Indicators Reading
The market is above the 30% range of the daily stochastic. It indicates that the index is in a bullish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.

General Outlook for Germany 30 (DE30EUR)
DE30EUR is in an upward move. The index has fallen to the low of 13660 and has resumed an upward move. According to the Fibonacci tool analysis, the index will rise to level 14473.10.



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DAX Performs Positively as Market Risk Mood Soars

DAX Performs Positively as Market Risk Mood Soars

Germany stocks traded higher on Thursday, as Transportation and Logistics, Industrials, and Media sectors saw significant gains. At the close of the market yesterday (Frankfurt time), the DE30EUR (DAX) grew by about 0.4%, while the MDAX and TecDAX rallied by 0.87% and 0.08%, respectively.

The best performers under the DAX were Volkswagen (DE: VOW3), which spiked by 4.5%. The Deutsche Bank AG (DE: DBK) grew by 4.1%, while the MTU Aero Engine (DE: MTX) rose by 3.16%.

Meanwhile, the worst performers of the session were Infineon Technologies AG (DE: IFX), which dropped by 1.5%. The SAP SE (DE: SAPG) fell by 1.22%, while the Deutsche Boerse AG (DE: DB1G) ended the day with -1.1%.

Altogether, rising stocks outnumbered plummeting ones on the Frankfurt Stock Exchange by 438 to 241, while 31 remained unchanged.

Meanwhile, the DAX volatility index (V1XI)—which monitors the implied volatility of DAX options—dropped by 8% to 21.37, a six-month low.

In other news, President-elect Joe Biden has hinted at a whopping $1.9 trillion to bolster the US economy, one of the worst-hit of the COVID-19 pandemic. This announcement was the crucial supporting factor for risk assets and indexes, like the DAX, over the week.

Paul Donovan, Chief Economist at USD Global Wealth Management, explained in a podcast that “realistically, it will be a stimulus that hits the second quarter, rather than the first, as Congress is not going to pass this at once, and almost certainly will not pass the proposals as they stand.”

Donavan noted that the Democratic support for additional state and local government aid and minimum wage increase are both likely to trigger strong opposition from Republican Senators.

The 50-50 split in the upper chamber could expose some parts of the package to filibusters unless bipartisan support for the bill can be attained. However, a bipartisan agreement at the moment seems very unlikely considering the recent political tensions that swept through the country.

Meanwhile, recent expectations that the vaccine rollout will essentially end the pandemic by the middle of the year has been thrown into uncertainty. New mutations of the virus, crawling distribution of vaccines, and scattered evidence of issues about the effectiveness of the vaccines are all adding to the growing concerns plaguing the market.

In Germany, Covid-related deaths have hit a record high, as the country reported 1500 deaths just 24 hours ago. Across Europe, especially in the UK, public healthcare facilities have reached their maximum capacities and are under pressure to admit more.

That said, Germany might go with the UK in extending lockdown restrictions through the end of the first quarter at least. Google mobility data show that activities across the continent have dropped significantly at the start of the new year.

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