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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 71% 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 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.

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Forex Commodities Break-even United States dollar Gold Dollar
Written by: Axel Rudolph | Market Analyst, London
Publication date:

(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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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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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