The EURUSD moved lower very quickly after the disappointing German ZEW Economic Sentiment, which came out at -24.7, and was worse than expected.
The EURUSD abruptly reversed its upward trend on the hourly chart after reaching just 10 pips shy of 1.18. It’s fallen to as low as 1.1695 before it reclaimed 1.17.
The trade war began officially on July 6th between the U.S. and China. The U.S. stock market seems to ignore the adverse effects on the economy that the trade war may bring in the near future. The Dow Jones soared 300+ points yesterday. The Fed was wary over the intensifying trade disputes; however, they were not deterred as far as raising the interest rates gradually.
There has been 1 trade from my MT4 EA since the last update. It was a loss.
The strategy can be found here.
The previous week’s result can be found here.