Top Trade Ideas - May 29th
As your personal investment analyst, we strive to bring you informed decisions. After a thorough market review, here are ten trade ideas for you to capitalise on this week.
Last week was the mother-of-all-rallies. Nasdaq closed the week up 3% after a 2.4% decline to start the week. Nvidia was the standout from the week, reaching nearly $400 from $300 before earnings.
In FX, the week gave us disappointing UK PMI data, and even with inflation coming in above expectations, GBP slid lower. EUR also underperformed, with short EUR/USD trades piling on and accelerating the pair down with a break below 1.0750.
USD remained agnostic to the US debt chatter, but a good US GDP reading on Thursday helped to prevent and meaningful move lower for the greenback.
We’ve scanned through hundreds of charts over the long weekend to bring you our top ideas.
Charts, explanations, entries and exits for all the best r/r ideas across equities, FX, commodities and indices.
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