Correlation of gold and euro | 28 أغسطس 2019
28 أغسطس 2019, EUR/USD
EURUSD trading plan:
The bearish trend in the gold market has a negative impact on the value of the euro, as both assets have a strong correlation. Gold prices were down after the U.S. Treasury yield curve inverted again and sparked worries about a recession. The yield on the benchmark 2-Year Treasury note fell to 1.526% - this figure is 4 basis points higher than the yield of 10-Year bonds. The phenomenon raised concerns of a potential recession. The last time the long-term yield fell below a short-term yield was in February 2006, two years before the recession.
Trading recommendation: Sell 1.1100 and take profit 1.1070.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
