22 April 2021, EUR/USD
EURUSD trading plan:
The ECB has published fresh statistics on the change in assets on the balance sheet. The indicator increased by €7.93 billion over the week, against €20.15 billion a week earlier. The growth rate has reduced to a minimum in the last 4 weeks, which is positive for the euro. A bullish rally in the precious metals market will provide additional support to the European currency, as the euro correlates with gold. Geopolitical tensions between the United States and China are having a positive impact on the value of gold. A U.S. Senate committee on Wednesday backed a bill aimed at China and proposing closer scrutiny of overseas donations to U.S. colleges and universities among other measures. The passage of the bill, also aimed at bolstering U.S. competitiveness in the technology and critical manufacturing industries, also raised tensions between the two countries.
Investment idea: buy 1.2025 and take profit 1.2088.
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