Trading the trend: long EUR/USD
Softer US inflation points to an end of the Fed rate hike cycle with the greenback expected to slide.
We would like to go long EUR/USD on a retracement to $1.0800 with a stop-loss at $1.0630 and an upside target at $1.1200.
(AI Video Summary)
Trading copper futures and natural gas
In this video, Axel Rudolph shares his recent trading experiences with copper futures and natural gas. He explains that he bought copper futures at a price of around $8035.00 and saw the value increase to $8242.00. To protect his investment, he adjusted his "stop loss" (a predetermined price at which he would sell to limit losses) so that he wouldn't lose any money if the value went back down. Despite almost being forced to sell, he decided to stick with the trade because the value didn't drop enough. On the other hand, he wanted to buy natural gas in November but was forced to sell at around $3.00, resulting in a loss.
A new EUR/USD trading opportunity
Moving on, Rudolph talks about a new trading opportunity with the EUR/USD (the EUR against the US dollar) chart. He believes that the value is starting to increase because it has moved out of a downward trend and retested it multiple times. He has also noticed a pattern of higher highs and higher lows, which suggests that the value will continue to increase. The recent drop in the US dollar's value has also pushed the EUR/USD above a key moving average, indicating a positive outlook. Rudolph suggests going "long" on the EUR/USD, meaning he recommends buying now and selling at a higher price later. He suggests entering the trade when the value drops slightly to $1.08, setting a stop loss at $1.0630 to limit potential losses, and setting a profit target at $1.12.
A confident outlook
Overall, Rudolph's trading experiences with copper futures and natural gas gave him confidence that he can make a profitable trade with the EUR/USD. He believes the value has a good chance of increasing based on both technical analysis (chart patterns and indicators) and fundamental analysis (economy-related factors like interest rates). He provides specific entry and exit points for the trade to help guide viewers who may not have much trading experience.
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