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Is EURUSD a leading indicator for Copper?

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Futuros de cobre (COMEX:HG1!)  
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COMEX:HG1!   Futuros de cobre
Trend Analysis Chart Patterns Technical Indicators Copper copperlongterm Copper Futures HG1! xcuusd (Copper) EURUSD Metals Forex Commodities
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trendanalysis chartpattern indicator copper copperlongterm hg1! xcuusd eurusd metals forex commodities
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.









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