Correlation between Euro and gold | 08 اكتوبر 2019
08 اكتوبر 2019, EUR/USD
EURUSD trading plan:
We are expecting a bearish trend today. Investors increase short positions in the gold market, which will negatively affect the value of the Euro, as there is a correlation between the assets. Speculative investors were net sellers of the precious metal in the week to October 1, according to the latest data snapshot from CFTC, reducing net long positions to the least since the week of July 30. The gold/silver ratio now at 85.4. The usual ratio at 80. This is a negative signal for gold.
Trading recommendation: Sell 1.1000 and take profit 1.0960.
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.
