DAXEUR
The DAX 40 index closely monitors developments in European and global markets. The European Central Bank's expectation of a quarter-point interest rate cut, and the possibility of rate cuts by the BoE and the Fed by the end of the year, could have a positive impact on the index. Positive performances in other indices such as DJ30 in Italy and the US are also helping the DAX 40 to display a positive outlook. This week, speeches by Fed officials and housing data coming from the US could lead to new movements in the markets.
From a technical perspective, the DAX 40 index is trading above the 13-period average at the level of 19710, indicating that the upward momentum continues. In upward movements, the levels of 19850 and 19975 can be monitored as resistance. In the event of downward pressure, the levels of 19605 and 19545 appear as support areas. The RSI indicator is at the level of 55 and exhibits a positive trend. The index has experienced a decline of 0.20% compared to the previous day, indicating short-term fluctuations.
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