The Euro and gold are correlated | 12 November 2019

12 November 2019, EUR/USD

The Euro and gold are correlated

EURUSD trading plan:

We are expecting a bearish trend today. The Euro and gold are correlated. Investors are increasing short positions in the precious metals market. Gold prices fell and is now near a 3-month low. Positive trade negotiations between the United States and China are forcing investors to increase short positions in the gold market. Fed Chairman Jerome Powell suggested earlier that the U.S. central bank’s third-straight rate cut of a quarter point in October would be its last for the year. This is a positive factor for the U.S. dollar and a negative factor for precious metals.

Trading recommendation: Sell 1.1030 and take profit 1.1000.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus