#GBPJPY And #GOLD Significant Negative Correlation
I would like to clarify first that the indicator in use for the correlation is the best I have seen. And it is developed by @balipour.
In the settings I have increased "Correlation Lookback Length" from 20 to 50.
This graph optimally shows the inverse relationship between the two.
This relationship is seen in 240 (4H) in its great majority.
My bias on the
GOLD remains bullish therefore I would expect a continued decline in $ GBPJPY. However, this week we have two major events #FOMC and #FED this will greatly affect the movement and trajectory of $GBP.
Possibly a bearish continuation until the end of the year. And in theGOLD the month of July in the last 10 years in a seasonal analysis. It is when the GOLD makes its highest price peaks reach $1800 even $ 1900 this year would not be surprising. Is it possible that GOLD reaches historical prices exceeding $1920 in 2011?
I would like to clarify first that the indicator in use for the correlation is the best I have seen. And it is developed by @balipour.
In the settings I have increased "Correlation Lookback Length" from 20 to 50.
This graph optimally shows the inverse relationship between the two.
This relationship is seen in 240 (4H) in its great majority.
My bias on the
GOLD remains bullish therefore I would expect a continued decline in $ GBPJPY. However, this week we have two major events #FOMC and #FED this will greatly affect the movement and trajectory of $GBP.Possibly a bearish continuation until the end of the year. And in the
GOLD the month of July in the last 10 years in a seasonal analysis. It is when the GOLD makes its highest price peaks reach $1800 even $ 1900 this year would not be surprising. Is it possible that GOLD reaches historical prices exceeding $1920 in 2011?
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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.