28 Desember 2020, EUR/USD
EURUSD trading plan:
The uptrend in the oil market will have a positive impact on the value of the Euro, as assets are correlated with each other. Next year, global GDP is OPEC forecast to grow by 4.4%. This rebound will be mainly driven by emerging and developing economies, especially in Asia. Recent news about the possibility of vaccination programs in most major economies provides upside to the current forecast, which assumes that a vaccination will gradually be globally available by 2H21. Earlier availability would allow a faster-than-anticipated move towards normalization. This is a positive signal for oil prices!
Investment idea: Buy 1.2200 and take profit 1.2239.