The EURUSD Is Near 1.2100 after the Dovish ECB Rate Decision and Possible Improving Trade Relationship between the U.S. and China

The euro moved lower again on Thursday and had broken below the previous low of 1.2155.

The EUR/USD is trading near 1.2100.  The euro's decline today was driven by the ECB rate decision.  Although there is no change in rates and the economy outlook, and the ECB keeps the bond buying until September, it gives no reason for traders to long the euro.  Besides, the soaring U.S. bond yields keep the U.S. dollar in demand.  There is also news about the possible improving trade relations between the U.S. and China that sends the U.S. equities and dollar higher.

There have been 2 trades from my MT4 EA since the last update.  Both were losses.


The strategy can be found here.

The previous week's result can be found here.