DAXEUR

DAXEUR is under the influence of the overall negative trend in global stock markets. Losses in Japan and Tokyo stock exchanges in Asia, the Russel 2000 index in the US, and the selling pressure spreading among European stock markets also negatively impact the DAX40 index. Germany's main index, DAX40, faced a decline of approximately 1.50% this week. For the index to maintain its positive trend, it is crucial to stay above the 19450 – 19535 levels, which are the 55 and 89 period moving averages. However, if it stays below these levels, the index risks retracting to the 18995 – 19090 support zone by changing the current trend.

On the daily chart, DAXEUR finds support at the 19540, 19470, and 19350 levels, while it may encounter resistance at the 19630, 19720, and 19800 levels. The RSI indicator is at the 45 level, displaying a negative outlook. The index is trading at the 19602 level with a 0.43% increase compared to the previous day. The chart indicates that momentum is weak as it approaches resistance levels. Therefore, the current technical indicators suggest that the downward risks may persist in the short term.