Correlation of the European currency and gold | 10 1月 2020

10 1月 2020, EUR/USD

Correlation of the European currency and gold

EURUSD trading plan:

We are expecting a downtrend to develop. The decision from the president United States to opt for sanctions rather than military response sent safe-haven assets down, while stocks and other risk assets recovered. Trump said the U.S. "will immediately impose additional punishing economic sanctions on the Iranian regime." Investors are increasing their short positions in the precious metals market. This is a negative signal for the Euro, since the European currency is correlated with gold. Additional support for the U.S. dollar will be provided by positive macroeconomic statistics from the United States. We are expecting positive labor market data for December.

Trading recommendation: Sell 1.1115 and take profit 1.1077.

David Johnson
Analyst of «FreshForex» company
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.
manager photo manager photo
Online-support
我们很高兴回答您的问题

提交申请

Get bonus