The Weak U.S. Dollar Comment Sent the Euro to 1.24

The euro has managed to set another record since January 16th even though the ECB rate decision and its economic outlook statement are looming.

The U.S. dollar bearish sentiment was exacerbated by the comments from the U.S. Treasury Secretary Mnuchin.  He  said, “Obviously a weaker dollar is good for us as it relates to trade and opportunities.”

The euro has been quietly climbing higher since yesterday.  The euro buyers stealthily pushed the euro higher and higher against the greenback ahead of the ECB’s meeting this Thursday.  As the European session began, the euro waved good bye at the recent high of 1.2322 and never looked back.

A buy position was opened from my MT4 EA after the euro broke above 1.2330.  The position closed with a profit.

The strategy can be found here.

The latest result can be found here.

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