Will the Euro Fall below the March 19th Low of 1.2240 against the Dollar before the U.S. Job Report This Friday?

The euro fell further against the U.S. dollar and approached the March 16 low of 1.2260.

The EUR/USD repeated its pattern from Monday.  It moved higher during the Asian session, and then began to trade lower after the European markets opened.  It broke below 1.2280 and threatened to test the March 19 low of 1.2240.  Traders are waiting for the U.S. job report on Friday, so there is no reason for traders to hold any open position in euro.  The mood in the market is quiet.

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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