InvestingScope
Short

Is EURUSD a leading indicator for Copper?

COMEX:HG1!   Copper Futures
Based on their correlation since 2002 we can say that EURUSD is a leading indicator for Copper . Especially since 2010, they both trade within a 1M Channel Down, with EURUSD however respecting the Lower Highs/ Lower Lows more. So with EURUSD on a long term bearish trend towards the 1.0358 support, we expect 2.000 long term for Copper . Technically Copper's 1M is on a pivotal point, being neutral overall ( RSI = 53.441, Williams = -49.469, CCI = 9.9212, Highs/Lows = 0.0000) so expect the break lower to take place soon.









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