CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.

AUD/USD

Market Opportunities - 12/08/2020

12 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 downtrend opportunity based On 1.00 Lot Calculation:

  • The AUD/USD pair has broken out of a short-term upward trend amid rising tensions between US and China, as well as falling risk appetite in the markets.
  • The latest news from the United States that the morbidity and mortality curve in America has begun to decline has played a positive role, which, together with the start of production of drugs for COVID-19, will become a strong incentive for the US dollar.

AUD/USD August, 12 2020
Current Price: 0.7125

AUD/USD

Weekly

Trend Direction

DOWN

Resistance 3

0.7260

Resistance 2

0.7215

Resistance 1

0.7185

Support 1

0.7065

Support 2

0.7030

Support 3

0.6990

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

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss Short in $

-1,350.00

-900.00

-600.00

600.00

950.00

1,350.00

Profit or loss Short in €**

-1,150.40

-766.94

-511.29

511.29

809.54

1,150.40

Profit or loss Short in £**

-1,035.20

-690.13

-460.09

460.09

728.47

1,035.20

Profit or loss Short in C$**

-1,798.20

-1,198.80

-799.20

799.20

1,265.40

1,798.20

* 1.00 lot is equivalent of 100000 units
** Calculations for exchange rate used as of 08:20 am (GMT+1) 12/8/2020
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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