Trading the trend: long EUR/USD after the rise?

Since EUR/USD has been rising since mid-April and last week broke through its downtrend line, Axel would like to benefit from the current minor retracement lower and go long the cross with a stop loss at $1.0690 and an upside target around the $1.1100 region.
Subscribe to IG South Africa: ua-cam.com/users/IGMarketsZA?s...
IG Trading Seminars: www.ig.com/za/webinars-and-se...
Twitter: / igsouthafrica
Facebook: / igsouthafrica
LinkedIn: / ig-za
About IG South Africa
IG is a global leader in online trading, providing fast and flexible access to over 17,000 financial markets - including CFDs on indices, shares, forex, and commodities.
The IG Group head office in London was established in 1974, and we aim to become the default choice for active traders globally.
We are a global fintech company incorporating the IG, tastytrade, IG Prime, Spectrum and DailyFX brands, with a presence in 20 countries across five continents - Europe, North America, Africa, Asia, and Australia.
We have a longstanding commitment to South Africa. Established in 2010, IG Markets South Africa Limited (IGMSA) is regulated by the FSCA (formerly the FSB) operating with a FAIS license, FSP No 41393 and is an over-the-counter derivative provider.
Our office in South Africa has a dual purpose. Firstly, to give South African traders access to thousands of financial markets, and secondly, to provide an operations hub that provides services to the wider IG Group.
Over the last twelve years we have successfully grown to meet the needs of South African clients.
We have received numerous industry awards including SA's Top CFD Broker, Intellidex Top Securities Brokers Awards 2021; SA's Best CFD Provider in 2020, Intellidex, Top Stockbroker awards and SA's best Online Broker in 2015 and 2017, Intellidex Investors Monthly Top Stockbrokers Awards.