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Bullish rally in the commodity market

Bullish rally in the commodity market | 22 July 2019

22 July 2019, EUR/USD

Bullish rally in the commodity market

EURUSD trading plan:

Bullish rally in the commodity market will have a positive impact on the value of the Euro. Investors are increasingly long positions in gold, silver, platinum, copper, Nickel. The Euro has a direct correlation with metals. CFTC reports signal a reduction in short positions on the Euro. Investment funds reduce their short positions on the Euro. The yield of 2-Year German government bonds fell below -0.77%. Bond yields are 0.77% lower than the European Central bank interest rate. This is a negative signal for the Euro.

Trading recommendation: Buy 1.1207 and take profit 1.1260.

David Johnson
Analyst of «FreshForex» company
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