Can the Euro Close at the Highest Point of 2017?

The euro just kept climbing.  The European common currency continued to extend its gain against the U.S. dollar.  It is trading above the 1.20 level at the moment.

The euro is changing hands above the 1.2000 level currently amid the continuously broad U.S. dollar weakness.

Yesterday’s weaker-than-expected data from the U.S. fueled the euro’s advance above the $1.19 level.

The EUR/USD pair has held onto its strong gains since yesterday.  Today, the bullish momentum was encouraged by the German CPI, which came in to show a modest pickup in inflation and the numbers were better than forecasted.  Nonetheless, the euro is on track to end the year on a high note.  Based on the current level, just another advance of 70 to 80 pips, with another 4 hours or so to go, the euro could close at the highest point against the U.S. dollar of 2017. 

The U.S. dollar seems to have run out of reasons for traders to be bullish.  The tax bills have passed.  It needs something new to attract the buyers, but there isn’t any in sight.

Trading is also quiet due to the holiday lackluster trading activities.

There have been no activities from my MT4 EA since the last update.

The strategy can be found here.

The latest result can be found here.

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