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EUR/USD Signal - Trade Balance s.a - 9 Feb 2021

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Signal Details
Entry Price: 
1.20493
Take Profit: 
1.21170
Stop Loss: 
1.19930
Direction: 
Buy
How we trade
Average: 5 (1 vote)

EUR/USD is trading to the upside today after the EUR Trade Balance. The Trade Balance released by the Statistisches Bundesamt Deutschland is a balance between exports and imports of total goods and services. If a steady demand in exchange for German exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the EUR. Technically the pair is trading above the 50 moving average, and we anticipate further upside on the EUR/USD into the 1.21170 level.

Submitted by Toni H. on Mon, 08 Feb 2021 23:45:06 GMT

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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.

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