Correlation between the euro and oil | 02 February 2021

02 February 2021, EUR/USD

EURUSD trading plan:

A bullish rally in the oil market will have a positive impact on the value of the euro, as the assets are correlated with each other. The market was well supported, thanks largely to the gradual tightening of supply under Saudi Arabia's unilateral output cuts of 1 million barrels a day. Those cuts, announced after the OPEC+ group's last monthly meeting, came into force as of Monday, but have already been instrumental in accelerating the decline of world crude stocks over the last month. OPEC+ group had stuck to its quotas, in aggregate, almost perfectly, although non-OPEC members' output ran slightly ahead of target.

Investment idea: Buy 1.2059 and take profit 1.2150.

One of the highest demand products in FreshForex is invest-portfolios.

Invest-portfolio is an optimal tool for both beginners and experienced traders due to its high efficiency and low work efforts. This is the fifth portfolio developed by FreshForex specialists. In 2020, we proposed traders four investment portfolios, each of which demonstrated positive results. The total return was 71.5%.

2 steps to get the Invest-portfolio:

1. Fund your trading account with $50 or more from February 1 to 26, 2021.

2. Send a request to school@freshforex.com with your account number funded.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus