Correlation between the euro and gold | 28 7月 2020

28 7月 2020, EUR/USD

Correlation between the euro and gold

EURUSD trading plan:

We are expecting an uptrend to develop. A bullish rally in the precious metals market will have a positive impact on the value of the euro. The gold rally comes on the back of low interest rates and trillions of dollars of Covid-19 stimulus passed by governments and global central banks that have debased the dollar and other conventional currencies and heightened inflation fears — a situation which investors typically hedge by buying gold. Republicans led by President Donald Trump have finalized the fourth COVID-19 relief bill, worth about $1 trillion, that will provide temporary and reduced extension of unemployment benefits, another round of stimulus checks, liability protection for businesses, and funding to help schools restart.

Trading recommendation: Buy 1.1700 and take profit 1.1750.

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.