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EUR/USD Signal - EUR Retail Sales - 3 May 2021

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Signal Details
Entry Price: 
1.2029
Take Profit: 
1.2075
Stop Loss: 
1.1985
Direction: 
Buy
How we trade
Average: 5 (1 vote)

EURUSD is finding upside this morning prior to the EUR German retail sales data, which measures the total receipts of retail stores in Germany. Technically the major forex pair has broken to the downside of an ascending wedge pattern and held above the 1.2000 significant level, and we anticipate upside into a pattern retest. The PPO has given a bullish cross signal and the histogram is at bullish levels.

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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.