Germany’s rate of unemployment stayed unchanged at 6.8% in January. This is a record-low level. According to the survey conducted by Dow Jones Newswires, the analysts expect the unemployment rate to decline by 5000 people after a 26K decline down to 287K.
According to Eckart Tuchtfeld, Economist for Commerzbank AG, these data show that the country’s labor market is strong.
According to the experts of , the 6E futures (EURUSD) declined below 1.3400 while being attended by high trading volume. At this point the price is around the 1.3350 resistance.
On the one hand, the downswing looks confident. But yesterday’s stop volume (candle 1) confuses the situation. The movement is probably suspended for some time. On the other hand, judging by the absence of demand (candles 2,3,4) there are no buyers in the market. If the price consolidates below the resistance, it may well reach 1.3300.
