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Correlation of Euro and gold

Correlation of Euro and gold | 30 September 2019

30 September 2019, EUR/USD

Correlation of Euro and gold

EURUSD trading plan:

Good news and bad news for the Euro. The good news is the negative dynamics in the U.S. government bond market. The decline in bond yields will have a negative impact on the value of the U.S. currency. The bad news is the negative dynamics of the precious metals market. We are expecting the continuation of the bearish rally in gold. Gold futures for December delivery lost 0.7% at $1,493.35 per ounce. Gold prices fell as safe-haven demand took a hit by reports that Saudi Arabia would agree to a ceasefire in Yemen, where it has been fighting anti-government Houthi rebels for the last four years.

Trading recommendation: range 1.0885 -1.0951.

TRADE METALS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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