Correlation between the euro and gold | 24 June 2020
24 June 2020, EUR/USD
EURUSD trading plan:
The bullish rally in the gold market will have a positive impact on the value of the European currency. Traders worries about rising numbers of COVID-19 cases globally and expectations of further stimulus measures giving the yellow metal a boost. Precious metal got a further boost from U.S. Treasury Secretary Steven Mnuchin’s statement that the next U.S. stimulus bill would focus on getting people back to work quickly, with a further delay of the tax filing deadline also under consideration.
Trading recommendation: Buy 1.1310 and take profit 1.1360.
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.
