Correlation between the euro and gold | 26 Enero 2021
26 Enero 2021, EUR/USD
EURUSD trading plan:
Republican lawmakers have voiced objections to the expensive price tag for a $1.9 trillion stimulus package proposed by U.S. President Joe Biden earlier in the month. They have counter proposed a smaller plan targeting COVID-19 vaccine distribution. Democratic Majority Leader Chuck Schumer also threw the proposal’s timing into question, saying that a comprehensive deal could be four to six weeks away. This is a positive signal for gold, which will have a positive impact on the value of the euro, since the assets are correlated with each other.
Investment idea: Buy 1.2110 and take profit 1.2165.
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.
