The ECB warned of potential trade issues | 21 Febrero 2020

EURUSD trading plan:

A bullish rally in the precious metals market will have a positive impact on the value of the Euro. Gold trades at the highest level since February 2013. The anti-risk yellow metal continues to draw bids from retail investors and hedge fund. The classic haven assets like gold and treasuries have found love amid the coronavirus outbreak in China and the fears of the virus spreading to other parts of the world, leading to a sharp slowdown in global growth. The ECB also warned of potential trade issues, saying the U.S.-China deal could cost the European Union some exports as a result of “trade diversion,” and noting that U.S. and EU still have unresolved tariff issues. This is a negative signal for the European currency.

Trading recommendation: range 1.0765-1.0830.