The Euro Stopped Short of 1.24 – Await the ECB Tomorrow

The euro has stalled at 1.24 but enjoyed a great run up none the less.

The U.S. dollar bearish sentiment was worsened by the U.S. Treasury Secretary Mnuchin’s weak-dollar comment.  He said earlier, “Obviously a weaker dollar is good for us as it relates to trade and opportunities.”

The euro has enjoyed a 160-pip hike after touching the 1.2240 low during the European session yesterday.  The euro bulls seemed to take a gamble on the outcome of the ECB’s meeting tomorrow.  If the ECB does not talk down the recent euro’s strength badly, it may send the euro even higher.

Another buy position was opened immediately after the previous one was closed from my MT4 EA.  The previous one was open during the Europe open at 1.2341.  It closed with a profit.  The latter was opened at 1.2398, near the day high, and closed with a loss.

The strategy can be found here.

The latest result can be found here.

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