Good and bad news | 20 Januari 2020
20 Januari 2020, EUR/USD
EURUSD trading plan:
Good and bad news for the Euro. A bullish rally in the precious metals market may support the European currency as the Euro and gold correlate with each other. The Federal Reserve cut rates by a quarter percent point for three months back to back in 2019, before bringing that easing cycle to a halt in December. This is factor has a positive effect on the value of gold. The bad news for the Euro is positive macroeconomic statistics from the United States. The Federal Reserve said that manufacturing production rose 0.2% last month after a downwardly revised 1.0% increase in November.
Trading recommendation: range 1.1060 -1.1125.
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.
