Trade of the week: short Robusta Coffee
Robusta coffee prices seem to be in the process of topping out close to their April peak, which is why we would like to go short front month futures with a stop loss above the April high and a downside target at 3,405.
(AI Video Summary)
Previous EUR/USD trading outcome
In this week's "Trade of the week" trading discussion, Axel Rudolph focuses on a previous trade involving the EUR/USD pair. Initiated at $1.0860, the trade experienced a brief gain but reversed sharply the next day, hitting the stop loss at $1.0803, resulting in a modest loss. Despite the loss, the potential gain targeted was significantly higher, aiming for $1.1000 - offering a lucrative risk-reward ratio.
This week's trading opportunity
For the current week's trading opportunity, the attention is on Robusta Coffee, recommending a short position due to observed bearish signals, with a stop loss above the April high and a downside target at 3,405.
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