(Video): The Relationship Between Gold and Bitcoin - May 26, 2021 - Forex Anatomy

(Video): The Relationship Between Gold and Bitcoin – May 26, 2021

Another round of “hopium” supported risk-related assets during today’s trading session as confidence, caused by the gradual reopening of economies, supported US equity markets during the North American docket.

Although risk appetite was the prevailing market behavior among investors, financial markets were still reluctant to trade notably higher and remained tethered to their opening ranges, as analysts continue to decipher growing signs of inflation in asset prices. During today’s webinar, we briefly discussed the strong rally in XAU/USD (GOLD), and how tumbling US treasury yields served as a tailwind for the yellow metal and other precious commodities.

We also talked about the relationship between traditional hedges, like Gold, and its digital relative Bitcoin ($XBT) as a modern inflation hedge. The US economic docket did not provide much catalysts or news to drive asset prices, but there was still a fair amount of volatility that did provide some opportunities to execute trades across most asset classes.

🔔 During the webinar, we executed a sell in CAD/CHF at 0.7410 ⛔️ SL- 0.7415 🎯 TP – 0.74033 which reached the Take Profit Order at 8:55am ET. ✅ We also analyzed price action in a few currency pairs like CAD/CHF, GBP/CAD, EUR/GBP, EUR/CHF, AUD/CHF, USD/CHF, USD/JPY, EUR/USD, ADA/USD (Cardano), XBT/USD (Bitcoin), and ETH/USD (Ethereum) for trade setups that could be forming within the next few trading sessions.

You can watch this morning’s trading webinar session by clicking on the video link above and entering your username & password.

 


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About the Author Marvin Perry

Marvin Perry has been an active trader within the Forex market since 2010. He attended the University of Illinois in Urbana/Champaign, and graduated in 2002 with a double major in Cell and Structural Biology and Chemistry. He currently serves as an FX instructor & Quantitative Analyst for the Forex Anatomy Private Trading Community called "The Lab", where he conducts live weekly trading webinars & instruction on Fundamental Analysis & Inter-Market Interpretations of dynamic asset classes and their influence on currencies.

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