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.
** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...
) to get more daily ideas. **
Comments and likes are greatly appreciated.