GER30 short-term analysis – 25 April 2023
Left shows the daily Ger30 chart. It is positioned in its bullish channel between the upper blue and red bands. Its RSI is above 50 (bottom green rectangle), which is the bullish side of the oscillator. However, the last eight trading sessions have drifted sideways in consolidation (upper green rectangle). This may be setting up a platform to take prices higher, given the positive indications.
Right is the GER30 hourly chart. The momentum-based stochastic has crossed positively (black ellipse). If it can move to the 80+ area and hold (blue arrow), an underlying positive momentum will be present and supportive of the GER30.
The hourly price is supported at the S1 and S2 pivots but there needs to be more positive movement. The previous three candlesticks are spinning tops which are candles of uncertainty. Bulls have tried to take price up and bears have tried to take price down, but neither has succeeded. A bullish cross by the trend-following EMAs followed by angle and separation to the upside will be regarded as positive.
The Ger30 is likely to take direction from US markets as big tech earnings are expected. Amazon, Alphabet, Microsoft and Meta Platforms will release Q1 earnings this week, which are likely to introduce volatility. Besides influencing the tech sector, the earnings are likely to affect the broader market as well. This is because advertising sales make up a large part of Alphabet and Meta's revenue, which will give indications on the general health of consumption. Amazon will also provide important consumer information.
Alphabet and Microsoft will report today, Meta will report on Wednesday, and Amazon reports on Thursday.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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.