The correlation between gold and Euro | 24 December 2019

24 December 2019, EUR/USD

The correlation between gold and Euro

EURUSD trading plan:

We are expecting an uptrend to develop. A bullish rally in the precious metals market will have a positive impact on the value of the Euro. Gold and the Euro are correlated with each other. Gold prices rose up in Asia to six-week-high record. The main driver of the gold price this year has been lower global interest rates amid heightened geopolitical tension in Europe over BREXIT, as well as the trade war between the U.S. and China. The prices have jumped more than 15% since the end of 2018.

Trading recommendation: Buy 1.1079 and take profit 1.1195.

Download a profitable trading strategy for free. Send a request to school@freshforex.com. In the email specify your number of trading account.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .