The euro reversed its trend yet again abruptly and tried to stay afloat above 1.2300 after the disappointing economic data from Europe.
The EUR/USD was down 60 pips or so after it reached 1.2387 and reversed. The softer than expected EU data triggered today’s reversal.
The EUR/USD was up more than 100 pips against the U.S. dollar yesterday because of the less hawkish Fed forecast. The U.S. dollar plunged across the board after the Fed meeting as the Fed suggested that there would be only two more rate hikes in 2018 and not three. The Fed chair, Powell, said that the inflation was not an immediate threat, that the lack of wage rises surprised him, and that some businesses were worried about trade because of the tariffs.
There has been 1 trade from my MT4 EA since yesterday. That trade closed with a profit. Barely.
The strategy can be found here.
The previous week’s result can be found here.