Profit: -$7.81 Total: $905.58
The EUR/USD continues to get destroyed while making new lows. I’ll post an illustration below, and take a look at how close it is to it’s year lows. Once year low breaks, then comes parity, then comes a Euro that’s weaker than the dollar. December is slowly approaching and the dollar is rising up fast. I can see how the Feds would start to worry if the dollar continues to rise up so quickly before the December meeting. For now, data is staying consistent with expectation and the upcoming holidays should fuel some consumer spending.
I lost a good amount of my profits today by shamefully longing the EUR/USD. The dollar got tired during London and I thought it was pulling back. Unfortunately, the dollar continued to push the euro lower and lower. There is a FOMC minutes meeting tomorrow which can definitely affect the dollar. Most likely, the statements will be hawkish for the dollar, but nothing’s guaranteed.
Look how close EUR/USD is approaching it’s year’s lows.