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EUR/USD stays above 1.11 after German Industrial Production rebounds 1.1% MoM in Nov

Industrial Production in Germany expanded more-than-expected in November, the official data showed on Thursday; suggesting that the manufacturing recession in Europe’s largest economy seems to be easing.

The industrial output came in at +1.1% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 0.7% rebound expected and -1.7% last.

EUR/USD clings onto 1.11 after upbeat German Industrial data

EUR/USD is trading above 1.11 after German industrial output beat expectations with 1.1% in November. The market mood is upbeat amid the Mid-East calm. Central bankers speak later in the day.

According to Trading Central (3rd party RIA) the EURUSD could be heading UP to 1.1240 if it does not go BELOW 1.1065

* Past performance is not a guarantee of future performance

Number of Lots:Required Margin:Risk Management (200%):Potential Profit/Loss 1.1240
1€ 3,333.33€ 6,666.67€ 1,080.00
5€ 16,666.67€ 33,333.33€ 5,400.00
10€ 33,333.33€ 66,666.67€ 10,800.00
25€ 83,333.33€ 166,666.67€ 27,000.00
50€ 166,666.67€ 333,333.33€ 54,000.00

USD/JPY struggles to stretch the recovery above 109.25/30

USD/JPY holds onto recovery gains from Wednesday while trading near 109.20 in Thursday’s Asian session. The pair struggles to extend the upside as the US Treasury yields drop back in the red zone.

Considering the overbought conditions of RSI and the strength of multiple lows marked between December 19 and 25, buyers will wait for a sustained break of 109.30 before taking a fresh entry.

In doing so, 109.60 and the Christmas 2019 high of 109.80 could be on their radar ahead of 110.00 round-figure.

Alternatively, sellers can sneak in if the quote slips below 200-bar SMA level of 109.00, which in turn will highlight early-week top near 108.60 as the follow-on support.

Should there be increased selling pressure below 108.60, 107.80 and the recent low near 107.65 will return to the charts.

According to Trading Central (3rd party RIA) the USDJPY could be heading DOWN to 107.40 if it does not go ABOVE 109.70

* Past performance is not a guarantee of future performance

Number of Lots:Required Margin:Risk Management (200%):Potential Profit/Loss 107.40
1€ 2,997.60€ 5,995.20€ 1,558.00
5€ 14,988.01€ 29,976.02€ 7,790.00
10€ 29,976.02€ 59,952.04€ 15,580.00
25€ 74,940.05€ 149,880.10€ 38,950.00
50€ 149,880.10€ 299,760.19€ 77,900.00

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