Trading the trend: short EUR/USD
As EUR/USD has entered key resistance between $1.0695 and $1.0725, we would like to go short the cross with a stop loss above the 200-day simple moving average at $1.0815, and a downside target in the $1.0500 region.
(AI Video Summary)
Previous soybeans and VIX trading outcomes
In this week's "Trading the trend" episode, Axel Rudolph focuses on recent and new trading strategies. Two weeks prior, he recommended shorting soybeans - a position that proved profitable. He also discussed going short on the volatility index (VIX) amidst geopolitical tensions, which remains an open trade with potential upside as tensions eased and the VIX retreated.
This week's trading opportunity
This week's new strategy involves shorting the EUR/USD pair, citing a downtrend and suggesting a selling opportunity within a key resistance area. Key levels for the trade include entering a key resistance between $1.0695 and $1.0725, so Rudolph reccomends to go short the cross with a stop loss above the 200-day simple moving average at $1.0815, and a downside target in the $1.0500 region.
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