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AUD/USD

Market Opportunities - 03/09/2021

03 September, 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 Daily downtrend opportunity based on 1.00 Lot Calculation:

  • EVENT: Friday, September 3, 13:30 GMT+1 – US Nonfarm Payrolls (NFP) for August. The figures are expected to show growth deceleration in newly created jobs in the US economy. However, ADP data badly disappointed on Wednesday when it showed only 374,000 newly created jobs in the US private sector. This scenario has already been priced in the level of this currency pair.
  • A mix of exaggerated low (NFP) expectations for NFP figures and the (overstretched) weakening of the US dollar could trigger a big comeback for the US dollar.

AUD/USD, September 3, 2021
Current Price: 0.7436

AUD/USD

Daily

Trend Direction

DOWN

Resistance 3

0.7546

Resistance 2

0.7526

Resistance 1

0.7506

Support 1

0.7366

Support 2

0.7346

Support 3

0.7326

Example of calculation based on daily 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 $

-1,100

-900

-700

700

900

1,100

Profit or loss Short in €**

-926

-758

-590

590

758

926

Profit or loss Short in £**

-795

-651

-506

506

651

795

Profit or loss Short in C$**

-1,379

-1,128

-878

878

1,128

1,379

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:50 am (GMT+1) 3/9/2021
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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