GER30 Down On Covid Woes

  • GER30

GER30 - H1

Broader market sentiment took a nose-dive, after Austria announced lockdown measures to restrain the spread of the coronavirus. This sent investors to the arms of safe-havens such the US Dollar and Japanese Yen and away from stock markets.

The German indicator reacted lower on the news, with the Covid situation in Europe being a risk factor about which we had warned a couple of days back, as well as for the potential of corrective moves last week.

This led to a breach of the EMA100, but initial drop is contained above the ascending trend-line from October lows (at 16,100), with the relevant Euro plunge, helping towards this direction.

As long as risk-off persists, this support can give way and expose the GER30 to sub-16,000 moves, with the first noteworthy support located at the 15,950-20 area.

Trade the News: View our Economic Calendar

If the current levels hold, and investors manage to shake-off the Covid-jitters, then they can push for fresh record highs (16,302).

In any case, technical approach is of lesser importance at this stage, as risk-trends are the main driver.

Past Performance: Past Performance is not an indicator of future results.

Nikos Tzabouras

Senior Market Specialist

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.


Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.

Spreads Widget: When static spreads are displayed, the figures reflect a time-stamped snapshot as of when the market closes. Spreads are variable and are subject to delay. Single Share prices are subject to a 15 minute delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays, or for actions relying on this information.

Risk Warning: Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.

${} / ${getInstrumentData.ticker} /

Exchange: ${}

${} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)