DAXEUR

While the ECB did not change the policy rate last week, the Eurozone inflation to be announced this week is expected to increase from 2.9% to 3% on an annual basis. While German bond yields fell, the German DAXEUR index closed the week with an increase of nearly 2%. The German growth data to be announced on Tuesday and the German inflation data to be announced on Wednesday can be counted among the headlines to be followed for the DAXEUR index, as they are leading data. As long as it moves above the 16900 - 17000 region with support from the 34-period average, positive expectations are at the forefront. In the continuation of the rise, the 17100 - 17200 level can be followed as resistance. In possible declines, the index can be expected to be suppressed around the 17100 resistance and close below the 16900 - 17000 region for negative expectations. In this case, pullbacks towards the 16800 - 16726 levels can be observed. Support: 16726 – 16600 Resistance: 17000 – 17100