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AUD/USD

Market Opportunities - 25/08/2021

25 August, 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, August 27, 02:30 AM GMT+1 – Australia Retail Sales for July. Retail sales are expected to drop 2.3%, indicating a worsened mood of Australia’s consumers, which is negative for the Aussie.
    EVENT: Friday, August 27, 03:00 PM GMT+1 – Friday: Speech by Fed Chair Jerome Powell at the Jackson Hole symposium, to be held on-line. Market participants will want to hear more on Fed’s plans about its $120 billion per month bond-buying program. Speculations that the Fed could (not) still begin rolling back its pandemic-era stimulus in 2021 extended some additional support to the greenback;
  • Nearly sixty percent of Australia’s population is in some kind of lockdown, while the numbers of Covid-19 infection is in the uptrend and came today close to 1000 cases.
  • The AUD/USD is in the long-term downtrend that may continue.

AUD/USD, August 25, 2021
Current Price: 0.7259

AUD/USD

Weekly

Trend Direction

DOWN

Resistance 3

0.7359

Resistance 2

0.7339

Resistance 1

0.7319

Support 1

0.7199

Support 2

0.7179

Support 3

0.7159

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 $

-1,000

-800

-600

600

800

1,000

Profit or loss Short in €**

-851

-681

-511

511

681

851

Profit or loss Short in £**

-728

-582

-437

437

582

728

Profit or loss Short in C$**

-1,261

-1,009

-756

756

1,009

1,261

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:30 am (GMT+1) 25/8/2021
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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