The January 2016 resistance line

The pair will fail to break out from its January 2016 resistance line, sending the pair lower towards an uptrend support line. Germany is expected to post a 6.4% unemployment rate for the fourth consecutive month today, September 30. In addition to this, analysts are expecting a negative change in unemployment for the current month at -8K. This suggests that the EU’s largest economy is struggling to return to its normal economic health despite containing the virus. For investors, the recent figures mean that Germany’s economy is not recovering. On the other hand, Russia recorded it’s highest one-day increase of COVID-19 cases in more than three (3) months with 8,135 new cases. Despite this, the country was seen expanding its trading deals with other countries including Belarus, South Korea, and Japan. Currently, it accounts for almost half of Belarus’ foreign direct investments (FDI), and its trade deal with South Korea is nearing $25 billion.