FX_Professor

Weekly Review - 3/12/20 Dollar is King and Bitcoin is Gold

COMEX:GC1!   Gold Futures
A very interesting week and a very important day ahead.

Markets have been rising on sentiment (vaccine, Biden, we didn't die from Covid, Elon Musk is taking us to the moon) but dollar has been dropping.

Now it's time to let the real data take over the pace and our attention is to what will happen to the USD; which is right on a massive/critical support level.

Almost all your trades will depend on this.

1. Dollar is looking for direction (will it bounce off this level or will it drop/ and how much?)
2. NFP tomorrow is HUGE data coming out and will push Dollar over or off the current level (price is now on a crucial support level )
3. Next inflation data (Dec 10) and trade balances will be crucial data
4. Dollar price will affect most of your trades:

- metals (negative correlation- especially Gold , Silver , Copper )
- indices (positive coefficients, which means that as the value of the U.S. dollar increases, so do the stock indexes )
- stocks (which shares to choose / which to sell / how to diversify and hedge - 40% of shares follow the dollar)
- Bitcoin (the new safe haven to many may increase dramatically if the dollar crashes)

✨🦄 💎🚀 CRGPT Token : Join the Crypto AI Revolution 🌟 www.cryptogpt.io/

🌐FOREX SPECIAL: fxprofessor.com/forex-special 💡💙💬 Public Telegram: www.t.me/fxprofessor88 💎
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.