ECB Is Confident about Recovery and Sending the Euro Higher

The euro soared 100 pips or so from 1.1945 to 1.2045 on the ECB’s positive meeting minutes and outlook.

The EUR/USD was near 1.2050 before the momentum ran out.   The ECB’s meeting minutes helped push the euro higher today.  The document indicated that the policymakers were very confident about the euro zone economic recovery without any dovish in-between lines.

Yesterday, the euro rose 100 pips when China said it would slow down or halt the U.S. Treasury purchases.  At the end of the day, it has given back all of the gain.  China later denied the news about the halt of the U.S. Treasury purchases.  It went on and said that such purchases would be market driven.

The U.S. dollar continued to fall further against the yen.  It is now inching closer to $111 from the recent high of $113.2.

A buy order was opened due to the positive ECB minutes from my MT4 EA.  It is currently open.

The strategy can be found here.

The latest result can be found here.

Leave a comment

Your email address will not be published. Required fields are marked *