DAXEUR

European stock markets were negative ahead of the ECB interest rate decision to be announced tomorrow. The DAXEUR index futures contract started the middle of the week at 16796. German and Eurozone PMI data to be announced today may increase volatility in European indices. As long as the DAXeur index moves within the 16726-16900 region with support from the 34-period average, the decision-making stage scenario is at the forefront. With the index breaking down the 16726 support, pullbacks to the 16600-16400 levels may be on the agenda again. In possible recoveries, pricing towards the 17000-17100 levels can be observed with the index closing above the 16900 resistance. The land-stage scenario is at the forefront within the 16726-16900 region. Support: 16600-16400 Resistance: 16800-16900