DAXEUR

The DAXEUR parity is drawing attention with limited trading volume influenced by the holiday period in the European and US markets. The positive trend observed in Asian markets is affected by the rise in the US Nasdaq index. While the Richmond Manufacturing Index from the US remains in negative territory, year-end optimism is notable in the markets. However, expectations that the Fed plans to reduce interest rates less are limiting profit-taking in the markets.

From a technical perspective, the DAX40 index is trading below the resistance levels of the 20095 – 20280 range. As long as it remains below these resistance levels, the index may continue to pull back towards the support levels of 20000 and 19900. Selling pressure may persist up to the main support area, which is at the 19800 level. For the index to regain a positive outlook, it will need to rise above the 50 and 100 period moving averages. The RSI indicator is at the 45 level, exhibiting a neutral trend. A decline of 0.33% was recorded yesterday.