The European currency is struggling to demonstrate growth, but something is always getting in the way. This time, the perpetrator is gold, which has renewed its eight-month minimum, stopping one step from the psychological level of $1,700 per ounce. The euro and gold are historically correlated with each other and are the main antipodes of the US dollar.

If you look at the classic intermarket gold/oil ratio, the yellow metal may show another 3-5% decline, which will hold back the strengthening of the euro. This afternoon, the US Treasury will redeem $30 billion in Treasury bonds, which will put pressure on the dollar. What do we have in the bottom line? The decrease in the euro should be used for purchases, counting on the renewal of yesterday’s maximum.

Investment idea: Buy 1.2043/1.2028 and take profit 1.2115.