AUD/USD Weekly uptrend opportunity based on 1.00 Lot Calculation:
- EVENT: Tuesday, May 25, 03:00 PM GMT+1 – Conference Board’s Consumer Sentiment for May. The index is expected to drop to 120 from 121.7 in April, possibly indicating a worsened mood of US consumers, which is negative for the US dollar.
- The Fed's dovish view that any spike in inflation will be temporary prompted investors to scale back their expectations for near-term rate hikes. The US dollar is in a long-term decline against the Aussie. The opening of the developed economies and rising commodities prices are underpinning the Australian dollar;
AUD/USD, May 20, 2021
Current Price: 0.7739
|
AUD/USD |
Weekly |
|
Trend Direction |
|
|
0.7869 |
|
|
0.7849 |
|
|
0.7829 |
|
|
0.7649 |
|
|
0.7629 |
|
|
0.7609 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
1,300 |
1,100 |
900 |
-900 |
-1,100 |
-1,300 |
|
Profit or loss Short in €** |
1,067 |
903 |
738 |
-738 |
-903 |
-1,067 |
|
Profit or loss Short in £** |
921 |
779 |
637 |
-637 |
-779 |
-921 |
|
Profit or loss Short in C$** |
1,574 |
1,332 |
1,090 |
-1,090 |
-1,332 |
-1,574 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 07:30 am (GMT+1) 20/5/2021
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