DAXEUR

The DAXEUR pair is under downward pressure as global stock indices generally show negative performance on the fourth trading day of the week. Declines in chip sector stocks in Asian markets and losses experienced by the U.S. small-cap index Russell 2000 are also impacting the DAX. The selling pressure observed across Europe in Spain, Italy, France, the United Kingdom, and Germany has caused the DAX40 index to drop by around 1.50%. This pressure can be attributed to global economic uncertainties and concerns regarding the upcoming U.S. elections.

From a technical perspective, the DAXEUR pair may find support at levels 19195, 19090, and 18995, while upward movements could face resistance at levels 19350, 19485, and 19630. On the daily chart, we observe that the pair is squeezed between the 55 and 89-period moving averages. The RSI indicator is at level 44, exhibiting a negative outlook. The pair, trading with a 0.37% decline compared to the previous day, may face further selling pressure as it approaches the support levels. Possible rebound purchases from these levels will be critical in determining the pair's direction.