The Euro and gold are correlated | 21 January 2020

21 January 2020, EUR/USD

EURUSD trading plan:

Good and bad news for the Euro. The good news is a bullish rally in the precious metals market. The Euro and gold are correlated. Moody’s downgraded Hong Kong’s credit rating. The rating agency said Monday that “the absence of tangible plans to address either the political or economic and social concerns of the Hong Kong population. Meanwhile, worries over China’s coronavirus were cited as tailwinds for the yellow metal today. The bad news for the Euro is the negative dynamics of the German debt market.

Trading recommendation: range 1.1065 -1.1125.

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 .