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Correlation between the euro and gold

Correlation between the euro and gold | 26 Enero 2021

26 Enero 2021, EUR/USD

Correlation between the euro and gold

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.

David Johnson
Analyst of «FreshForex» company
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