Geopolitical tensions | 29 June 2020

29 June 2020, EUR/USD

EURUSD trading plan:

Good and bad news for the euro. Geopolitical tensions between the United States and the European Union over trade issues may force investors to build up short positions on the European currency. A bullish rally in the precious metals market will have a positive impact on the value of the Euro, as the European currency correlates with gold. Traders piled into safe havens amid a new global surge in COVID-19 cases. A new model by the University of Washington also predicts 200,000 coronavirus deaths in the United States by Oct. 1.

Trading recommendation: range 1.1230 -1.1290.

David Johnson
Analyst of «FreshForex» company
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