The euro continued its downtrend and broke below 1.22 after the Fed chair’s remarks.
The euro extended its decline after the hawkish comments from the new Fed chairman, Powell, earlier this week.
The euro has continued to weaken against the U.S. dollar because of the Fed chair, Jerome Powell’s, upbeat comments about the U.S. economy and the softer flash Euro-zone consumer inflation numbers, which eased to 1.2% year-to-year in February as against the previous month’s 1.3%.
The focus now will be Powell’s appearance before the Congress, where he is expected to reiterate at least three rate hikes in 2018.
There has not been any trading activity from my MT4 EA since January 22.
The strategy can be found here.
The previous week’s result can be found here.