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Gold And EUR/USD Trade Higher

By Gregor HorvatCommoditiesJan 14, 2022 07:25AM ET
www.investing.com/analysis/gold-and-eurusd-trade-higher-200614773
Gold And EUR/USD Trade Higher
By Gregor Horvat   |  Jan 14, 2022 07:25AM ET
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The USD remains bearish after US CPI figures this week that came out around expectations, while PPI yesterday increased by 0.2%, less than expected. The dollar is down even after some weakness on stocks yesterday during the US session.

So EUR/USD is higher, but one of the reasons can be remarks by ECB Vice President Luis de Guindos who said on Thursday that the euro zone's inflation spike is not as transitory as earlier thought. 

EUR/USD 4-hour chart technical analysis.
EUR/USD 4-hour chart technical analysis.

Technically speaking we see EUR/USD in an uptrend on intraday charts with room for further gains. Support is at 1.1430-1.1450.

Gold remains in an uptrend and is coming nicely higher, as expected away from the 1814 support. We see the fifth wave now in progress with a projection up at around 1835/40 area where the trend may once again start slowing down.

Gold price chart.
Gold price chart.

Gold And EUR/USD Trade Higher
 

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Gold And EUR/USD Trade Higher

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Comments (2)
Shane Zhang
Shane Zhang 15 hours ago
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The gold to SP500 ratio look to entering into a long term bull.  what do you think?
Richard Ehimamiogho
Richard Ehimamiogho 20 hours ago
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So boss what r we expecting next week, can we get a retreacement of 1805 before it move to 1835 or 40
 
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