EURUSD forecast ahead of German Unemployment Change!

EURO data
EURO data

German Unemployment Change measures the change in the number of unemployed people during the previous month.

Usual Effect: A high reading or a better than expected number is seen as negative for the EUR, while a low reading is positive.

Frequency: Released monthly, about 30 days after the month ends.

Last Read :13K

Expectations : 5K

Actual : ??!!

Volatility :  Various from month to month !!

Support and resistance : 1.2375 , 1.2425 , 1.2475 , 1.2560 , 1.2630 , 1.2685 , 1.2725 , 1.2770

Market Impact :we have 3 scenarios for EURUSD :

  • A reading between  (-3K: 13 K ) , will bring sideways move within support and resistance levels , 1 support level could be broken ( sell at resistance).
  • A reading above 13K ,will accelerate the bearish move , 1 or 2 support level(s) could be broken .
  • A reading below -3K will bring limited gains, 1 or 2 resistance level(s) could be tested before the next fall (sell at resistance after rejection).

It will be published today at 08:55 GMT 

 

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