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05.05.202113:43 Forex Analysis & Reviews: EUR/USD analysis for May 05 2021 - Falling wedge and potential for the upside movement towards 1.2075

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Technical analysis:

EUR has been trading downside but from my view it reached the extreme reading and the upside is preferable.

Trading recommendation:

Watch for potential buying opportunities above 1.2030 wit the upside target at 1.2070.

I found that falling wedge formation, which is another sign of the exhaustion on the downside and potential for the rally.

RSI oscillator is showing bull divergence, which is good confirmation for the upside movement in the next period...

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