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Correlation between gold and Euro

Correlation between gold and Euro | 29 May 2020

29 May 2020, EUR/USD

Correlation between gold and Euro

EURUSD trading plan:

We are expecting the development of an uptrend in the precious metals market that will have a positive impact on the price of euro. Geopolitical tensions between the United States and China are forcing investors to increase their long positions in gold. China's parliament on Thursday pressed ahead with national security legislation for the city, raising fears over the future of its democratic freedoms and function as a finance hub. U.S. President Donald Trump, who has vowed a tough response, said he will hold a news conference on China later today.

Trading recommendation: Buy 1.1080 and take profit 1.1125.

David Johnson
Analyst of «FreshForex» company
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