AUD/USD Weekly downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Friday, July 16, 13:30 PM GMT+1 – US Retail Sales for June. The US Core Retail Sales are expected to show the growth of 0.4% in June, after they declined 0.7% in May. If sales rise again, this may indicate a better mood of US consumers, which is positive for the US dollar.
- The US inflation figures for June showed a further acceleration of the consumer price index. This prompted investors to speculate about the necessity of a more hawkish Fed action in weeks and months to come, which is supporting the US currency;
- The Aussie is pressured by Sydney's decision to extend its lockdown as Covid-19 continues spreading in Australia's largest city.
AUD/USD, July 14, 2021
Current Price: 0.7484
|
AUD/USD |
Weekly |
|
Trend Direction |
|
|
0.7604 |
|
|
0.7584 |
|
|
0.7564 |
|
|
0.7404 |
|
|
0.7384 |
|
|
0.7364 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
-1,200 |
-1,000 |
-800 |
800 |
1,000 |
1,200 |
|
Profit or loss Short in €** |
-1,018 |
-848 |
-679 |
679 |
848 |
1,018 |
|
Profit or loss Short in £** |
-867 |
-722 |
-578 |
578 |
722 |
867 |
|
Profit or loss Short in C$** |
-1,501 |
-1,251 |
-1,001 |
1,001 |
1,251 |
1,501 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:45 am (GMT+1) 14/7/2021
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