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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Trading the trend: long EUR/USD

EUR/USD has been rising since mid-April and last week broke through its downtrend line.

Video poster image

We would thus like to benefit from the current minor retracement lower and go long the cross with a stop loss at $1.0690 and an upside target around the $1.1100 region.

(AI Video Summary)

Previous spot gold, GBP/JPY and TUI trading outcomes

In the latest episode of "Trading the Trend," Axel Rudolph discusses recent successful trades, such as going long on spot gold at $2,285, with a climb towards a target of $2,500, and buying GBP/JPY at approximately ¥193.75, moving towards ¥200 target. Both trades have been profitable.

However, a less successful trade involved buying TUI at €6.15, which has since declined. A stop loss error was noted, suggesting a correction to €513.50. The year-to-date profit stands at 40%.

This week's trading opportunity

For the upcoming week, the show recommends going long on EUR/USD, with a stop loss at $1.0690 and a target of $1.1100, following a break through a downtrend line.


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