Correlation with gold | 25 Juni 2019

25 Juni 2019, EUR/USD

Correlation with gold

EURUSD trading plan:

We are expecting a bullish rally on the main currency pair of the FOREX market. The yield of two-year government bonds is 0.64% lower than the Federal Reserve rate. This is a negative signal for the U.S. currency! Investors are forced to sell's dollars and direct capital to other assets. CFTC reports indicate a large volume of U.S. dollar sales by investment funds. We are seeing a bullish rally in the gold market. The precious metal has been trading at its highest level in the last five years. This is a positive signal for the Euro which is correlated with gold.

Trading recommendation: Buy 1.1393 and take profit 1.1439.

David Johnson
Analyst of «FreshForex» company
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