The ratio tells you that has the price appreciation been faster than Eur/Usd exchange rate declining - i.e. are the things getting better fundamentally or has the recent appreciation been only currency inflation?
Based on the fibonacci's and recent price action, it has not been only currency . GER30*EURUSD made a bottom in the beginning of 2016 FY and an impressive in the summer. Since then GER30 has been appreciating faster than Eur/Usd declining. If the both would start appreciating, that would imply that things are really starting to improve fundamentally in the European Union. That would mean GER30*EURUSD to break above the channel.
Now it seems to be in "consolidation-mode", but coming months will show hopefully medium-term direction.