CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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 - 14/07/2021

14 July, 2021

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 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

DOWN

Resistance 3

0.7604

Resistance 2

0.7584

Resistance 1

0.7564

Support 1

0.7404

Support 2

0.7384

Support 3

0.7364

Example of calculation based 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 $

-1,200

-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

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