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Correlation between Euro and gold

Correlation between Euro and gold | 31 Diciembre 2019

31 Diciembre 2019, EUR/USD

Correlation between Euro and gold

EURUSD trading plan:

We are expecting an uptrend to develop. A bullish rally in the precious metals market will have a positive impact on the value of the Euro, as the European currency correlates with gold and silver. Gold’s latest surge is strictly happening because the American currency is weakening, and expectations are growing the greenback will continue to fall further in 2020. Both Europe and Asia are starting to show further signs of economic life and the dollar could weaken further. Gold may test the 1520 level this week.

Trading recommendation: Buy 1.1188 and take profit 1.1215.

David Johnson
Analyst of «FreshForex» company
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