30 March 2021, EUR/USD
EURUSD trading plan:
The sustained loss of revenues in those sectors of the European economy most affected by social restrictions has weakened corporate balance sheets. Since the financial health of firms is an important determinant of investment, the long-run level of productivity is threatened by a reduction in capital accumulation. And firm-specific knowledge capital may be lost if the revenue shortfall during the pandemic results in the closure of otherwise viable firms. A downtrend in the gold market will have a negative impact on the value of the euro, as the assets are correlated with each other. Gold prices are looking vulnerable as Treasury yields continue to push higher. There is a historical connection on the market between the yield of US 10-year Treasury bonds and gold. Gold gets cheaper in periods when the yield of the bonds is bigger than inflation in the US. Now the indicator is 0.2% higher than inflation. The investors begin to sell the precious metal waiting for the yield of bonds to grow.
Investment idea: sell 1.1790 and take profit 1.1760.
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