Trade of the week: long CAC 40
The French CAC 40 stock index is expected to stay highly volatile ahead of Sunday’s second round of legislative elections.
However, for technical reasons we would like to go long the index, with a stop loss below last week’s low at 7,450, and an upside target at 7,850.
(AI Video Summary)
Previous corn futures and EUR/USD trading outcomes
This week's "Trade of the week" discusses successful stock movements and new trading strategies. The previously advised short position on corn futures executed at 452, achieved substantial profits with a sharp decline to 407.
Meanwhile, the long position on EUR/USD, initiated at 1.0715, resisted volatility and aims for a target of 1.09.
This week's CAC 40 trading opportunity
This week's trading recommendation involves going long the CAC 40 index amidst the French presidential election's first-round outcome. Entry is suggested around the current level, utilising a tight stop loss below last week’s low at 7,450 and an upside target of 7,850, capitalising on election-driven market movements and a potential double bottom pattern.
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