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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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Trading the trend: short EUR/USD

This week, we look at going short EUR/USD as the pair continues to decline following poor eurozone PMI data. With our stop at $1.095, above the recent highs, we are looking for a move down towards $1.07.

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Forex Commodities EUR/USD Euro United States dollar Market trend
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

(AI Video Summary)

Previous natural gas trading outcome

In this week's "Trading the trend" hosted by Chris Beauchamp on 24 July, the discussion centres on effective trading strategies for the week. Last week’s recommendation by fellow IG analyst, Axel Rudolph, to short natural gas on a bounce to around the 2302 level proved prescient; prices rallied on Monday and peaked close to the suggested entry point at 2297, and it since then started to move lower.

This week's trading opportunity

The current focus shifts to the EUR/USD pair, which shows bearish momentum following weak purchasing managers index (PMI) data from the eurozone. The strategy involves shorting EUR/USD from current levels, with a protective stop loss placed at $1.095 to account for volatility, anticipating potential further declines. We are looking for a move down towards $1.07.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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