Trading the trend: long silver
IG's Chris Beauchamp looks to go long silver as the price steadily rises after recent weakness, with a stop at $27.00 an ounce.
(AI Video Summary)
Previous EUR/USD trading outcome
In this week's episode of "Trading the trend", Chris Beauchamp recaps a successful short position on EUR/USD, driven by a strengthening US dollar ahead of the Federal Reserve (Fed) meeting and upcoming payroll data, which continues to drive the pair downward.
This week's trading opportunity
Looking ahead to this week, Beauchamp spotlights a new opportunity in going long on silver, noting its recovery towards $28.60 after recent price pullbacks. The strategy involves placing a stop at $27.00 per ounce to manage risk.
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