05 Agustus 2020, EUR/USD
EURUSD trading plan:
The bullish rally in the gold market will have a positive impact on the value of the European currency. The price of gold continues to be supported by ongoing weakness in the dollar as well as light-at-the-end-of-the-tunnel of negotiations for a new COVID-related aid package in the U.S. The negotiations in the U.S. for a new aid package appear to be moving forward. A meeting between Democratic leaders and the White House on Tuesday ended on a positive note. Senate Majority Leader Mitch McConnell also said that he is prepared to support a deal even if he does not agree with parts of it.
Trading recommendation: Buy 1.1800 and take profit 1.1846.