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

1 February 2021 | Updated: 1 February 2021

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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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.