The euro drifted between 1.2340 and 1.2280 today without any clear direction despite the U.S. stock market indices dropped 2% to 4% today.
The EUR/USD initially climbed higher and reached 1.2340. It reversed its course quickly and fell to as low as 1.2280. Traders are waiting for the U.S. job report on Friday; therefore, the Amazon sell-off and the U.S. – China trade war news did not move the euro very much.
The euro didn’t seem to be able to gain aground against the U.S. dollar even though the sentiment is on the long euro side.
- Possible trade war between the U.S. and China.
- The Fed chair, Powell, seemed unsure of the more aggressive rate hike schedule.
There has been no trade from my MT4 EA since the last update.
The strategy can be found here.
The previous week’s result can be found here.