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Correlation between Euro and gold

Correlation between Euro and gold | 15 November 2019

15 November 2019, EUR/USD

Correlation between Euro and gold

EURUSD trading plan:

We are expecting a bearish rally today. Investors are increasing short positions in the precious metals market, which will have a negative impact on the value of the Euro, as the Euro zone currency and gold correlate with each other. The fall in gold prices came after White House economic adviser Larry Kudlow said overnight that Washington is close to reaching a partial trade deal with Beijing. Traders increase long positions in high-yielding assets and short positions in low-yielding assets. The low-yielding assets are the Euro, the Japanese yen and gold.

Trading recommendation: Sell 1.1022 and take profit 1.0990.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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