The EURUSD turned higher today, but was still confined in a trading range between 1.1570 and 1.1660.
The EURUSD is trading higher today because the U.S. is willing to restart the trade talks with China in the near future. It is, however, still stuck in the range between 1.1530 and 1.1660 established last week. It remains to be seen whether the new tariffs against China will be announced.
Yesterday, the EURUSD was pushed lower when China asked for the WTO authorization to slap trade sanctions against the U.S. Nonetheless, the U.S. dollar is still in demand because the U.S. economy is growing and expanding at a healthy rate. The interest rate is moving higher while the rates in Europe remain low and steady.
There have been 2 trades from my MT4 EA since the last update. There was 1 winner and a loser.
The strategy can be found here.
The previous week’s result can be found here.