Good and bad news | 03 January 2022

03 January 2022, EUR/USD

Good and bad news

EURUSD trading plan:

Good and bad news for 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. The effect of the Omicron variant could support gold. Gold could see several catalysts for substantial gains next year, be it a Fed policy mistake, stubbornly elevated inflation, or even a spike in geopolitical tensions. Fed funds futures traders are fully pricing in a rate hike by May and almost three hikes by the end of 2022. This is a positive signal for the dollar.

Investment idea: range 1.1305 -1.1385.

David Johnson
Analyst of «FreshForex» company
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