Correlation Gold - EUR/USD

marketanalysis1 (25)in #gold • 7 years ago

Currently you can see the strong correlation between Gold and EUR/USD. A very strong Dollar let the precious metals decline. The COT report for EUR/USD is still very bearish. A further declining in EUR/USD will generate more pressure for the gold price. The seasonality in gold during May, June and July isn't supportive for gold. Probably the rally will start only at midsummer. Over the last 1.5 years gold followed the seasonality chart very well.
correlation gold eurusd.PNG

Seasonality Gold [www.seasonalcharts.com]:
saisonality gold.PNG

#eur #usd #money #finance

7 years ago in #gold by marketanalysis1 (25)

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