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Correlation between gold and euro

Correlation between gold and euro | 22 May 2020

22 May 2020, EUR/USD

Correlation between gold and euro

EURUSD trading plan:

The bullish rally in the precious metals market will have a positive impact on the value of the European currency, as gold and the euro correlate. Geopolitical tensions between China and the United States have a positive impact on the price of gold! Chinese Premier Li Keqiang said in his annual report to the National People’s Congress, “We will establish sound legal systems and enforcement mechanisms for safeguarding national security in the two special administrative regions [Hong Kong and Macau], and see that the governments of the two regions fulfill their constitutional responsibilities.”

Trading recommendation: Buy 1.0890 and take profit 1.0939.

David Johnson
Analyst of «FreshForex» company
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