Short EUR/USD | Trade of the week

This week, we're going short EUR/USD, as the US dollar continues to recover following Kevin Warsh's speech at Jackson Hole, which markets are interpreting as setting up a potential Fed rate hike in September. EUR/USD rallied strongly from late July into late August, but has been retreating from $1.17 and further losses look likely. We're shorting at current levels with a stop at $1.1670 and an initial downside target at $1.15, with potential for a further move towards $1.1450 depending on Fed action. Last week's long USD/JPY is working well, having rallied towards ¥160 before easing slightly. With the stop at ¥158 firmly in place and the dollar continuing to strengthen, the trade remains live. 👉 In this video: ✅ Why we're shorting EUR/USD ✅ The Fed rate hike case and its impact on the dollar ✅ Update on the USD/JPY long #Trading #EURUSD #Forex #TechnicalAnalysis #Markets #TradeOfTheWeek Trade of the Week Playlist: ►https://www.youtube.com/playlist?list=PLiuPElZAFyTJFfLuMPPt1SvCt8gJEpNs7 📈 Catch more market commentary and insights on our channel. 🔔 Subscribe ► https://www.youtube.com/@iguk_official?sub_confirmation=1 Find out more: https://upl.inc/k4gg8x Your capital is at risk. 69% of retail investors lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.