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AUD/USD

Market Opportunities - 06/08/2020

06 August, 2020

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

AUD/USD uptrend opportunity based On 1.00 Lot Calculation:

  • U.S. Congress is pressed to shape and adopt a new fiscal recovery package until Friday as the summer break starts this weekend;
  • Dissapointing ADP data, published yesterday, is weighing on the US dollar ahead of the July NFP figures, which are expected tomorrow.

AUD/USD, August 6, 2020
Current Price: 0.7188

AUD/USD

Weekly

Trend Direction

UP

Resistance 3

0.7278

Resistance 2

0.7258

Resistance 1

0.7238

Support 1

0.7138

Support 2

0.7108

Support 3

0.7098

Example of calculation based on weekly trend direction for 1.00 Lot*

AUD/USD

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

900

700

500

-500

-800

-900

Profit or loss in €**

759

591

422

-422

-675

-759

Profit or loss in £**

576

531

380

-380

-607

-683

Profit or loss in C$**

1,195

929

664

-664

-1,062

-1,195

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:25 (GMT+1) 6/8/2020
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Senior Account Manager for more details

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