DAXEUR

The DAX index started the day negatively due to disappointing GDP data and is under pressure from recession concerns. Fed Chairman Powell's speech will have a direct impact on global risk appetite. Powell's messages regarding tight monetary policy may increase selling pressure in global markets, causing the index to break the support level of 17,850 points and decline towards 17,700 points. Market-friendly or uncertainty-reducing statements could trigger a global relief rally and enable the index to surpass the resistance level of 18,050, rising towards 18,200 points.