Day 355: Dollar reversal

Profit:$3.79 Total: $1,273.71

The dollar flexed it’s strength overnight which gave the EUR/USD a rough 100 pip drop. Draghi probably had to do with the move when he spoke at the Brussels Economic Forum. Europe is currently in a recovery stage so it’s not too helpful for them to see a strong euro. They need a weaker euro to promote a faster growth for a speedy recover. The EUR/USD has been rising recently and Draghi had to remind the markets that they are ready to intervene at any moment.

Although the dollar showed signs of strength, I’m not entirely sure how long it’ll last. I was able to get a nice USD/JPY long trade when it broke out. I of course made the mistake on selling too quick, but at the moment I don’t trust the dollar’s rally.

3

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