Trade of the week: short EUR/USD
This week, we will go short EUR/USD with a stop at $1.088, as the dollar continues to strengthen versus the euro.
(AI Video Summary)
Previous FTSE 100 trading outcome
Chris Beauchamp reviews last week's trading strategy, where a long position on the FTSE 100 was stopped out at 8,100 before rebounding. This week, Beauchamp emphasises that the FTSE has reached a new high since May, surpassing resistance at 8,300, suggesting momentum for continued growth.
This week's trading opportunity
Transitioning to forex analysis this week, Beauchamp proposes a short position on EUR/USD, anticipating a decline influenced by a potentially unchanged Federal Reserve (Fed) rate. The short is set with a stop at $1.088, targeting drops toward $1.075, especially surrounding the forthcoming Fed meeting.
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