Correlation between gold and euro | 06 أغسطس 2020
06 أغسطس 2020, EUR/USD
EURUSD trading plan:
The bullish rally in the gold market will have a positive impact on the value of the European currency. Gold pricing, in addition to supply and demand for physical metal, is associated with the expected level of inflation and the expected level of interest rates in the United States. Gold theoretically has a constant value for paper money, so when money depreciates, the price of gold in dollars rises, which we observe this year. Now the real interest rate in the US is -0.35%. This is a positive signal for gold!
Trading recommendation: Buy 1.1840 and take profit 1.1900.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
