The EURUSD Traded Lower Because of the Rising U.S. Bond Yields

The euro moved sharply lower on Thursday after the rejection at the 1.2400 level .

It also appears the short term uptrend on the hourly chart has ended.  The U.S. bond yields are sharply higher today and flirting with the 2018 highs.  The U.S. dollar is benefiting from the strong rising yields, which has sent the major counterparts lower.

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.

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