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EURUSD: Is 1.25 enough to continue selling?
Decrease in number of people out of job in Germany was somehow shadowed by increase in unemployment in other Eurozone countries, Italy as such. The overall unemployment rate in the Eurozone met analysts’ expectations and remain at 11.5%. As there’s no real change in employment within the Eurozone for the last 3 months and inflation weakened to 0.3%, the single currency remain under strong pressure going into the Christmas period. As there are no real changes in the fundamental outlook of the Eurozone, the most traded currency pair is more likely to continue its course to levels last seen in July, 2012 with first bear target at 1.2360.
Decrease in number of people out of job in Germany was somehow shadowed by increase in unemployment in other Eurozone countries, Italy as such. The overall unemployment rate in the Eurozone met analysts’ expectations and remain at 11.5%. As there’s no real change in employment within the Eurozone for the last 3 months and inflation weakened to 0.3%, the single currency remain under strong pressure going into the Christmas period. As there are no real changes in the fundamental outlook of the Eurozone, the most traded currency pair is more likely to continue its course to levels last seen in July, 2012 with first bear target at 1.2360.
