AUDUSD Weekly downtrend opportunity based On 1.00 Lot Calculation:
- EVENT: Tuesday, April 6 at 05:30 am GMT+1 – The Reserve Bank of Australia Interest Rate Decision. The Australian central bank is expected to keep its interest rate at 0.1% and continue to provide monetary support to businesses and households. A low exchange rate is an important element of the current RBA policy;
- The 10-year US government bond yields are speeding up and approach 1.8% providing support to the US dollar, while commodities prices reversed from the February high, thus putting the Aussie under pressure;
- The currency pair is in a strong downtrend that may continue.
AUDUSD, March 30, 2021
Current Price: 0.7614
|
AUD/USD |
Weekly |
|
Trend Direction |
|
|
0.7724 |
|
|
0.7714 |
|
|
0.7704 |
|
|
0.7524 |
|
|
0.7514 |
|
|
0.7504 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
-1,100 |
-1,000 |
-900 |
900 |
1,000 |
1,100 |
|
Profit or loss Short in €** |
-937 |
-852 |
-767 |
767 |
852 |
937 |
|
Profit or loss Short in £** |
-801 |
-728 |
-655 |
655 |
728 |
801 |
|
Profit or loss Short in C$** |
-1,388 |
-1,262 |
-1,136 |
1,136 |
1,262 |
1,388 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 01:00 pm (GMT+1) 29/3/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client 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 Client Manager for more details