Trading the trend: short US dollar basket
We would like to go short the US dollar basket, as we believe the June rise to be corrective and target the 102.00 region. Our stop loss needs to be placed above the April peak at 106.20.
(AI Video Summary)
Previous TUI and gold trading outcomes
In this week's "Trading the trend," the focus is on recent trades and strategic moves in financial markets. A trade on TUI shares remains active but underperforming, with the stop loss adjusted to 24 May's low after breaking even last week.
The gold trade, entered at $2,333 per troy ounce, moved up to $2,387 and is hovering around break-even, with a maintained stop loss just below May's low at $2,270.
This week's trading opportunity
The key proposal for this week is to short the US dollar basket based on Elliott Wave analysis, suggesting a corrective pattern from the 7 June lows. Our stop loss needs to be placed above the April peak at 106.20.
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