Peso Crisis from Argentina and the EURUSD Fell below 1.17

The EURUSD reached 1.1730 and then, Argentina’s peso sparked fears in the market and stalled the euro’s advances.

The EURUSD was benefitting from the dovish stance from the Fed chair, Powell.  It was able to break above the 1.17 level, but was not able the sustain the gain.  The latest currency crisis from Argentina helped the EURUSD fall below 1.17.  It looks like the uptrend line from 1.13 on the hourly chart has been broken.

Last week, the EUR/USD got a boost from the Fed Chair, Jerome Powell.  He didn’t think the U.S. economy was overheating and the inflation was not accelerating.

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.

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