Correlation between Euro and gold | 09 Januari 2020

EURUSD trading plan:

We are expecting a downtrend to develop. The President Donald Trump opting against further escalation of the U.S. conflict with Iran. Trump, speaking after the Iranian attack on the U.S. airbases, said the United States will hit Iran with heavier sanctions. But he did not speak of a counterattack. He also offered Tehran chances for talks if it “changed its behavior,” a further sign of diplomacy. Gold futures for February delivery on New York’s COMEX settled down $25.10, or 1.15%.This is a negative signal for the European currency, since the Euro is correlated with gold.

Trading recommendation: Sell 1.1122 and take profit 1.1088.