Dr. Copper: A Barometer for Forex Market Sentiment
“Dr. Copper” is a term for copper, known as an economic health indicator due to its extensive industrial use. Rising copper prices signal economic growth, while declines suggest slowdowns. Copper prices also correlate with inflation and industrial activity, offering early market signals. Forex traders use copper trends to gauge market sentiment, predicting risk-taking or risk-averse behaviors. By monitoring copper’s price movements and overbought/oversold levels, traders can make more informed decisions, enhancing their trading strategies and performance.