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Correlation between gold and Euro

Correlation between gold and Euro | 19 November 2019

19 November 2019, EUR/USD

EURUSD trading plan:

A bullish rally in the precious metals market will have a positive impact on the Euro, as the Euro zone currency and gold correlate with each other. Investors are increasing long positions in the precious metals market, as the Federal Reserve's interest rate cut has a negative impact on the value of the dollar. Low yields on U.S. Government bonds are forcing investors to buy alternative assets. Further support for the Euro will be provided by a bullish rally in emerging markets.

Trading recommendation: Buy 1.1055 and take profit 1.1085.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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