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EUR/USD Signal - EUR Consumer Confidence(Dec) - 21 Dec 2020

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Signal Details
Entry Price: 
1.2207
Take Profit: 
1.2180
Stop Loss: 
1.2270
Direction: 
Sell
Result: 
Profit
How we trade
Average: 5 (1 vote)

EUR/USD is trading to the downside today prior to EUR Consumer Confidence(Dec). The Consumer Confidence released by the European Commission is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Technically the pair is trading below the 50 moving average, and we anticipate further downside on the EUR/USD into the 1.2180 level.

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.