Germany 30 (DE30EUR) Fluctuates between Levels 12000 and 12600, Targets Level 14569.10

Germany 30 (DE30EUR) Fluctuates between Levels 12000 and 12600, Targets Level 14569.10

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

Germany 30 (DE30EUR) Long-term Trends: Bullish
Germany 30 is in an uptrend. The index rose to level 13000 and was resisted.   A candle body tested 0.618 Fibonacci retracement level. This indicates that the pair will rise and reach  level 1.618 extension level. The upward move is expected.

DE30EUR – Daily Chart

Daily Chart Indicators Reading:
The index is at level 54 of the Relative Strength Index period 14. The market is in the uptrend zone and above the centerline 50. The SMAs are sloping upward indicating the previous trend. The moving averages have a bullish crossover.

Germany 30 (DE30EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways trend. Since June, the pair has been fluctuating between levels 12000 and 12600. The index has resumed an upward move to reach the upper price range. The price may reverse after testing the upper price range. However, the uptrend will continue if level 12600 is breached.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The market is currently above 40 % range of the daily stochastic. The market is in a bullish momentum. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for Germany 30 (DE30EUR)
DE30EUR index is still fluctuating between levels 12000 and 12600. According to the Fibonacci tool, the market will rise and reach level 1.618 extension levels. In other words, DE30EUR will reach the high of 14569.10


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