The negative dynamics of the commodity market | 29 اكتوبر 2019
29 اكتوبر 2019, EUR/USD
EURUSD trading plan:
The negative dynamics of the commodity market signals a decrease in the value of the Euro. Gold prices fell as risk appetite returned to markets. Investors are increasing long positions in corporate stocks around the world. The United States and China buoyed hopes for a possible trade deal. As long as economic mentality remains this positive, it would take some significant event to see gold turn into a bull market anytime soon. This is a negative signal for the Euro, which has a strong correlation with the precious metal.
Trading recommendation: Sell 1.1100 and take profit 1.1059.
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.
