Correlation between gold and the Euro | 13 November 2020

EURUSD trading plan:

Central bank heads sounded a warning note that the pandemic is far from over, although the vaccine developments show that an end is in sight, during Thursday's European Central Bank “Central Banks in a Shifting World” forum. “From a huge river of uncertainty, we see the other side now,” ECB President Christine Lagarde said in a panel discussion alongside U.S. Federal Reserve Chair Jerome Powell and Bank of England Governor Andrew Bailey. “But I don’t want to be exuberant about this vaccination because there is still uncertainty” over its production and distribution, Lagarde was quick to add. The uptrend in the gold market will have a positive impact on the value of the Euro, since assets are correlated with each other.

Trading recommendation: Buy 1.1795 and take profit 1.1850