The Euro Got a Boost from the European Commission’s Economic Forecast

The euro moved a bit higher on Thursday.  It is back above 1.16 amid the bullish economic growth forecast.

The euro moved above the $1.1600 level with the boost from the European Commission’s bullish economic forecast.   The Eurozone economy is expected to grow faster.

The reasons for the faster growth are the relatively low oil prices, the depreciation of the euro, and the easy monetary policy of the ECB. 

The sudden upward move did trigger a buy action in my MT4 EA.  Unfortunately, the upward momentum ran out of steam, and the buy order closed with a loss.

The strategy can be found here.

The latest result can be found here.

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