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 |
|
0.7546 |
|
0.7526 |
|
0.7506 |
|
0.7366 |
|
0.7346 |
|
0.7326 |
Example of calculation based on daily trend direction for 1.00 Lot*
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