Correlation between the British currency and oil | 08 февраля 2021

08 февраля 2021, GBP/USD

Correlation between the British currency and oil

GBPUSD trading plan:

A bullish rally in the oil market will have a positive impact on the value of the British currency, as the assets are correlated with each other. The market has been cheered by the way OPEC’s monthly meeting on output policy played out, with no extra output agreed and plenty of evidence of output quotas being observed. Nigerian output in particular has now fallen to a level that almost compensates entirely for its overproduction last summer, partly due to disruptions at some of its export facilities. In addition, another week of clear drawdown’s in U.S. and international inventories has convinced many that the market is set to tighten meaningfully as demand picks up in the course of the year, pushing back-month futures contracts sharply higher.

Investment idea: Buy 1.3715 and take profit 1.3766.

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
Согласны с этим обзором?
Мнения трейдеров:
Close
Авторизация
В вашем браузере отключена поддержка cookie. При отключенной поддержке cookie в браузере у вас могут возникнуть проблемы с отображением Личного кабинета. Как включить (активировать) поддержку cookie.