DislikedHello I am new to the world of FOREX One question is bothering me, currently the GOLD is falling which means that the USD should be rising and so why are so many people LONG the EURUSD? Especially with the speech of Mr. Powell if he announces an increase in interest rates? Thank you for enlightening me, I am thirsty to learn!Ignored
I was shorting EURUSD for months until today. I was frequently selling and closing since it was at 1.20s. I am buying EURUSD now. Yes gold will keep falling, i also have short positions on gold. According to my analysis EU should strengthen from now on, while gold is going down. Of course my analysis may be wrong, nothing is 100% right. Remember that gold and Euro are not the same, one of them can go up in value while the other is going down. World is going into a recession after all and Euro's value depends on rate hikes coming from the ECB. And even if they are a bit slow, they are still coming. So we can say that XAU/EUR will also go down.
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