Trade of the week: long EUR/USD
Since EUR/USD looks to have found support above its current June low, we would like to go long at $1.0715, with a stop loss below the May low at $1.0645, and an upside target around the $1.0900 mark.
(AI Video Summary)
Previous corn futures trading outcome
In the latest "Trade of the week", Axel Rudolph reviews his successful short position in corn futures, executed at 452, now profitable at 439, suggesting two options: cash in to realize profits, or let them ride to the downside target set at 410, and can adjust your stop-loss down from above the mid-June high at 464 to your entry level at around 452 to minimize trading risk.
This week's trading opportunity
Shifting to this week's focus, he's proposing a long position in the EUR/USD currency pair based on potential bullish reversal signs. The propsal is to go long at $1.0715, with a stop loss below the May low at $1.0645, and an upside target around the $1.0900 mark.
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