Correlation between the euro and oil | 21 ديسمبر 2020
21 ديسمبر 2020, EUR/USD
EURUSD trading plan:
A bullish rally in the oil market will have a positive impact on the value of the euro. Printing more money at the expense of inflation has always been a prime ingredient for boosting commodity prices. Bullish rally in the oil market is observed for almost two months now on bets that people across the world might soon be able to travel freely as millions of doses of coronavirus vaccines were being prepared for delivery over the course of the next few weeks, after approval by relevant health authorities.
Investment idea: Buy 1.2190 and take profit 1.2240.
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.
