07 December 2021, EUR/USD
EURUSD trading plan:
The downward trend in gold will have a negative impact on the value of the European currency, as assets correlate with each other. Gold prices edged lower, weighed down by firmer U.S. Treasury yields and bets the Federal Reserve could tighten policy more aggressively ahead of key inflation data later this week. Fed policymakers are likely to accelerate the tapering of their stimulus measures at its policy meeting next week with data showing unemployment plunged last month, suggesting the labour market was tightening. Reduced stimulus and interest rate hikes tend to push government bond yields up, raising the opportunity cost of non-interest-bearing gold.
Investment idea: sell 1.1330 and take profit 1.1278.
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