The EURUSD turned higher and then, abruptly fell below 1.16 again.
The EURUSD has been in the range bound between 1.1530 and 1.1660 since last week. The mood turned sour before the U.S. session when China asked for the WTO authorization to slap trade sanctions against the U.S. This came from the escalations of the trade wars between the two countries. However, it’s not totally unexpected because the U.S. continued to demand fair trade from China, and it refused to do so.
The overall economic climate hasn’t changed. The U.S. dollar continued to be strong against the major counterparts because the U.S. economy is growing and expanding at a healthy rate. The August job report from the U.S. was strong. Future rate hikes are inevitable.
There has been 1 trade from my MT4 EA since the last update. It was a winner.
The strategy can be found here.
The previous week’s result can be found here.