Outlook in German Unemployment Change (Dec) remains on the downside as long as 9K : 25 K level holds , and further decline still in sight towards or below -23 K , Last month the indicator made a small rise towards the -14 K levels.
However ; we have 3 scenarios for today :
1- Any upside move should be limited by -11K : 9K levels , so any reading within this range , will keep the EUR under pressure and further decline should be seen even in case of recovery !
2- Any upside move above 9K levels will override the nearest resistance and could bring strong rebound before the next fall..
3- Any reading below -11K will keep the EUR under heavy pressure with risk for more decline …
It will be published today at 08:55 GMT