Correlation between Euro and oil | 14 اكتوبر 2019

EURUSD trading plan:

The Federal Reserve plans to buy Treasury bills from October 15. This factor will have a positive impact on the value of bonds. The yield on Treasury bills will show a slight decline. This is a negative signal for the U.S. currency! Additional support for the Euro will provide a bullish rally in the oil market. High geopolitical risks force investors to increase long positions on oil, which is positive for the Euro, since both assets have a correlation. The tanker Sabiti was hit in Red Sea waters off Saudi Arabia on Friday. An Iranian government spokesman on Saturday described as a "cowardly attack".

Trading recommendation: Buy 1.1015 and take profit 1.1041.

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