The US killed this morning European time the Iran general Qassem Suleimani in Iraq. General Suleimani was a prominent person in the Middle-East and right hand of Iran's Supreme leader Ali Khamenei.
It is very interesting to see how
GOLD (+2%) and 
BITCOIN (+6%) are correlated and both assets have surged. Meanwhile, the S&P Index has dropped by -1.7%.
What does it mean? Investors are worried, as stated by Vice-president of U.S. Joe Biden, that President Trump "tossed a stick of dynamite into a tinderbox". Means, that we can expect some counter-measures from Iran and its allies. In these measures, investors see uncertainty in global markets and institutional money flows into more conservatives assets such asGOLD
The most interesting for me is how uncorrelated assets are behaving in this conflict. I am talking about relationships among the U.S. Dollar Index and Gold. If U.S. Dollar is rising, Gold should dropping, but since the conflict has arisen, both are growing.
I have expected rally inGOLD as I have outlined a bullish scenario on December 24th. Gold and Bitcoin are very correlated assets and we can see that there is some relief in a bearish downtrend since July 2019 in Bitcoin.
Overall we can see how technical analysis is supported by “fundamental news” which put an injection into more rally. As a new year with also new Q1 2020, we can expect some bullishness in Gold and take out last highs in 2019 for continuation in the rally. Bitcoin should follow suit not only because it is correlated with Gold but also that Bitcoin will have in 132 days Bitcoin Bock Reward Halving which should tremendously increase Bitcoin price.
____________________________________________________________________________
I do a daily observation of major currencies in forex and crypto. Do not miss any move, high-valued analysis or educational content.
Telegram: t.me/ADA_Public
Twitter: twitter.com/trader_ada
It is very interesting to see how
GOLD (+2%) and BITCOIN (+6%) are correlated and both assets have surged. Meanwhile, the S&P Index has dropped by -1.7%.What does it mean? Investors are worried, as stated by Vice-president of U.S. Joe Biden, that President Trump "tossed a stick of dynamite into a tinderbox". Means, that we can expect some counter-measures from Iran and its allies. In these measures, investors see uncertainty in global markets and institutional money flows into more conservatives assets such as
GOLDThe most interesting for me is how uncorrelated assets are behaving in this conflict. I am talking about relationships among the U.S. Dollar Index and Gold. If U.S. Dollar is rising, Gold should dropping, but since the conflict has arisen, both are growing.
I have expected rally in
GOLD as I have outlined a bullish scenario on December 24th. Gold and Bitcoin are very correlated assets and we can see that there is some relief in a bearish downtrend since July 2019 in Bitcoin.Overall we can see how technical analysis is supported by “fundamental news” which put an injection into more rally. As a new year with also new Q1 2020, we can expect some bullishness in Gold and take out last highs in 2019 for continuation in the rally. Bitcoin should follow suit not only because it is correlated with Gold but also that Bitcoin will have in 132 days Bitcoin Bock Reward Halving which should tremendously increase Bitcoin price.
____________________________________________________________________________
I do a daily observation of major currencies in forex and crypto. Do not miss any move, high-valued analysis or educational content.
Telegram: t.me/ADA_Public
Twitter: twitter.com/trader_ada
Note
Full analysis with charts you can read here: traderada.substack.com/p/recent-strike-in-iraq
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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.