The EURUSD has been trading in a narrow range before the rate decision from the ECB on Thursday.
The EURUSD moved higher from 1.17 yesterday after the EU agreed to the deals with the U.S. to avoid the trade wars. The uptick was again proved to be short lived. We have had 4 sudden moves since last Thursday caused by Trump’s verbal intervention. The effects were all momentarily. The most recent uptick seen in the EURUSD was related to the auto tariffs. The euro again was unable to break above the 1.1750 level. Traders are waiting for the ECB’s rate decision and the U.S. GDP data later this week.
The EURUSD has enjoyed some gain since last Thursday because Trump expressed his displeasure with the Fed’s monetary policy. The EURUSD was boosted from 1.16 to 1.17 because of his verbal intervention. The euro was trading as low as 1.1579 last Thursday before his comment.
There has been 1 trade from my MT4 EA since the last update. It was a loss.
The strategy can be found here.
The previous week’s result can be found here.