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Correlation between gold and Euro

Correlation between gold and Euro | 06 Noviembre 2019

06 Noviembre 2019, EUR/USD

Correlation between gold and Euro

EURUSD trading plan:

We are expecting a bearish rally today. The negative dynamics in the precious metals market signals a decrease in the value of the Euro, as gold and the Euro correlate with each other. Gold fell nearly 2%, perch as more investors left safe havens to embrace risk amid the non-stop chorus of a likely U.S.-China trade deal. U.S. and Chinese officials appeared serious enough to clinch a partial trade deal by considering rolling back more tariffs than initially said. The precious metal is trading below the important psychological level of $ 1500. Investors are increasing short positions in the precious metals market.

Trading recommendation: Sell 1.1094 and take profit 1.1050.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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