DAXEUR

In the context of geopolitical risks between Russia and Ukraine, support and defense spending provided to Ukraine, combined with President Trump's trade policies, have led to significant fluctuations in global stock indices. As of 2023, European indices are drawing attention with a positive performance. In this regard, the interest rate decision of the European Central Bank and the pullbacks observed ahead of U.S. employment data can be interpreted as a market reaction.

From a technical perspective on the DAX40 index, the Envelope indicator and the 89-period moving average form a significant support level in the range of 22370-22535. The positive trend of the index above this region could lead to movements towards 22830, 23000, and 23175 levels. Persistent movements above 23000 may increase bullish expectations, prompting a search for new peaks, while sustained movements below the 22370-22535 range could invalidate the current scenario. Important levels: 22370 and 23000.