DAXEUR

The DAXEUR pair seems to be setting its course for the new week with significant economic data expected from Europe and the USA. In particular, Germany's CPI and Services PMI data could provide clues about the Eurozone's economic condition. The U.S. Non-Farm Payrolls, Unemployment Rate, and Average Hourly Earnings data to be released on Friday may also increase market activity. Noticeable selling pressure in the Asian markets may reflect on the European markets. The Dollar Index has experienced limited losses as it becomes evident that the Fed plans fewer interest rate cuts than expected in its projections.

From a technical perspective, the DAX40 index is showing a constrained appearance in the 20000 - 20185 band region. For the index to establish a clearer direction, it needs to exhibit permanent movements outside this band. Above, the 20280 and 20385 levels stand out as significant resistance points, while below, the 19900 and 19800 levels are monitored as support. The RSI indicator is at 60, showing a positive outlook. A slight rise of 0.35% compared to the previous day is observed. The overall view suggests that the range-bound movement may continue.