Currencies play an essential function with treasured metals.
and both have the tailwind of a weak or the headwind of a powerful U.S. greenback.
This chart seems to be at one other key forex that usually strikes in numerous instructions than the USD and thus has an impact on treasured metals.
It’s a long-term month-to-month comparability of (prime body) and (backside body).
Each euro and gold have made essential lows at every (1) on the chart. They usually have a tendency to come back when the euro is testing its long-term uptrend line (2).
Nicely, that’s taking place once more at (three).
Will the euro head greater, once more, weakening the greenback and supply a tailwind for gold bulls?
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