The Euro Is Still Holding above 1.17

The trading range has been very narrow, fewer than 100 pips, since the beginning of the week.

The expectation is that traders are waiting for the ECB comment regarding its QE stance.

Today, the euro was pretty much lifeless.  However, about an hour ago, 3 PM Eastern, the euro moved up close to 1.18, which was proved to be a false upward move.  It has given up the 30+ pips gain and returned to 1.1760.

The sudden failed upward move was big enough to trigger some actions from my MT4 EA.  Because it was a failed attempt to move upward, the EA could possibly incur some losses.

The strategy can be found here.

The latest result can be found here.

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