1.1616 Is the Recent Support for the Euro and It Has Risen 100+ Pips against the U.S. Dollar

The EURUSD has continued to move higher since the reversal last Friday.

The EURUSD found some footing at around 1.1616 and has since moved up 100 pips.

The overall picture of the market has not changed much since last week.  The trade war began officially on July 6th between the U.S. and China.  The Fed will continue to raise interest rates; however, they are concerned about the potential effects from the U.S. tariffs on the Chinese goods on the economy.  The earnings season officially kicked off last week with the banks.

There has been 1 trade from my MT4 EA since the last update.   It was a winner.


The strategy can be found here.

The previous week's result can be found here.