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The correlation between the dollar and gold

The correlation between the dollar and gold | 13 June 2019

13 June 2019, USD/JPY

The correlation between the dollar and gold

USDJPY trading plan:

A bad inflation report in the United States is forcing investors to sell the U.S. currency. Lower gasoline prices played a role in keeping broader inflation tame. Energy prices fell 0.6% from the prior month and 0.5% from a year earlier as all major components in the category fell on an annual basis. D. Trump calls on the Federal Reserve to reduce interest rates by 1%. We expect a 0.5% reduction in rates by October 1. We are seeing an increase in the value of gold. This is a negative signal for the U.S. dollar! The dollar and gold show a negative correlation. That's strong!

Trading recommendation: Sell 108.49 and take profit 108.20.

David Johnson
Analyst of «FreshForex» company
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