27 Agustus 2021, EUR/USD
EURUSD trading plan:
The uptrend in the precious metals market will have a positive impact on the value of the European currency, since assets are correlated with each other. Gold prices rose above the key psychological level of $1,800 on Friday, supported by safe-haven demand and a dip in the dollar ahead of a speech by the U.S. central bank chief that will be scanned for cues on stimulus tapering. Gold is viewed as a hedge against inflation and currency debasement. Investors are now waiting for U.S. Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole, Wyoming, and symposium at 14:00 GMT for any hints about when the Fed will begin tapering its asset purchasing programme.
Investment idea: buy 1.1740 and take profit 1.1800.