The euro declined further before tomorrow’s U.S. job report.
The EUR/USD is now trading below the March 19 low of 1.2240 and close to the 1.2200 threshold. Should the job report or the average hourly earning from the U.S. fall short of the market’s expectation tomorrow, the U.S. dollar would get hammered; particularly, the hourly earnings are often deemed related to inflation. Higher earnings mean stronger inflation pressure; therefore, the Fed needs aggressive rate hikes to control it, and vise versa.
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.