28 Juli 2020, EUR/USD
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.