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EURUSD Intraday Overview: Consolidation US Sales Data Ahead

EURUSD Intraday Overview: Consolidation US Sales Data Ahead

The triangle is broken by a strong bearish candle. As we have mentioned before, this pattern is a bearish continuation pattern.

The pair is testing the 1.29900 support. A bullish XABCD pattern is completed on the H1 Chart timeframe.

US Retail Sales data will be published in the NY session.  A minor bullish correction is predicted toward 1.30060 and 1.30200.

A better than expected US Sales data will accelerate the bearish move and the targets will be 1.12700 and 1.12200. If the data does not meet the expectations the pair will continue its bullish correction to test the broken line toward 1.13400- 1.13500 regions.

We will short the pair at 1.13500. Our stop loss will be 1.13800 and the targets 1.12900, 1.12700 and 1.12200. Entry signal will be sent to members.

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