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.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
