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Correlation between Euro and gold

Correlation between Euro and gold | 25 November 2019

25 November 2019, EUR/USD

EURUSD trading plan:

We are expecting a bearish rally today. Investors are increasing short positions in the precious metals market. This is a negative signal for the Euro, as the currency correlates with gold. China’s President Xi Jinping said Beijing wanted a deal with the United States. But he said China will fight back if necessary against his counterpart President Donald Trump’s threat that Chinese imports will face more duties from Dec. 15 if a phase one agreement isn’t inked by then. Investors believe in the end of the US-China trade war and sell gold.

Trading recommendation: Sell 1.1025 and take profit 1.0990.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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