Correlation of Euro and gold | 03 Januari 2020
03 Januari 2020, EUR/USD
EURUSD trading plan:
We are expecting an uptrend to develop. A bullish rally in the gold market will have a positive impact on the value of the Euro. Gold prices rose to their highest in more than three months. The precious metal has risen some 2% against the dollar since the Christmas break. Global monetary policy easing, the fundamental factor that most supported prices last year, made its first appearance of the year overnight as China’s central bank cut its reserve requirement ratio for banks, freeing up $115 billion in liquidity.
Trading recommendation: Buy 1.1150 and take profit 1.1198.
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.
