Correlation between the euro and gold | 18 ديسمبر 2020
18 ديسمبر 2020, EUR/USD
EURUSD trading plan:
The bullish rally in the commodity market will have a positive impact on the value of the European currency, as assets are correlated with each other. Gold was bolstered by the announcement by the Federal Reserve buy at least $80 billion per month of Treasury securities and $40 billion per month of agency mortgage-backed securities in a bid to provide maximum employment to Americans and price stability to the economy. U.S. unemployment claims rose for a second week in a row, data showed reinforcing the need for urgent fiscal help.
Investment idea: Buy 1.2238 and take profit 1.2294.
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.
