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AUD/USD

Market Opportunities - 20/09/2021

20 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: Wednesday, September 22, 07:00 PM GMT+1 – The US Federal Reserve’s interest rate decision with an accompanying media conference of the Fed Chair Jerome Powell. Excellent retail sales data released last week strengthened the case for a more bullish Fed stance ahead of the upcoming meeting.
  • Evergrande, the second-largest real-estate firm in China is in financial distress and authorities are not willing to bail it out. This creates a strong risk off sentiment among investors. The Aussie is inextricably linked to the health of the Chinese economy and constructive relations between Australia and China;

AUD/USD, September 20, 2021
Current Price: 0.7240

AUD/USD

Daily

Trend Direction

DOWN

Resistance 3

0.7360

Resistance 2

0.7340

Resistance 1

0.7320

Support 1

0.7160

Support 2

0.7140

Support 3

0.7120

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 $

-1,200

-1,000

-800

800

1,000

1,200

Profit or loss Short in €**

-1,025

-854

-683

683

854

1,025

Profit or loss Short in £**

-876

-730

-584

584

730

876

Profit or loss Short in C$**

-1,535

-1,279

-1,023

1,023

1,279

1,535

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:10 am (GMT+1) 20/9/2021
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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