AUD/USD

Special Reports - 02/11/2021

02 November, 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 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: Wednesday, November 3, 07:30 PM GMT+1 – The US Federal Reserve’s meeting end with an accompanying media conference of the Fed Chair Jerome Powell. The Fed is expected to announce shift in its monetary policy as rising inflation becomes more persistent than previously thought according to comments put forward from Fed officials.
Overnight, the Reserve Bank of Australia (RBA) left its policy rate unchanged as expected. However, it sent out a more dovish message by deciding to discontinue the target of 10 basis points for the April 2024 Australian Government bond. Commenting on the policy outlook, RBA Governor Phillip Lowe said market pricing for early rate hikes was extremely unlikely.

AUD/USD, November 2, 2021
Current Price: 0.7471

AUD/USD	Weekly
Trend Direction	DOWN
Resistance 3	0.7581
Resistance 2	0.7561
Resistance 1	0.7541
Support 1	0.7401
Support 2	0.7381
Support 3	0.7361

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 $	-1,100	-900	-700	700	900	1,100
Profit or loss Short in €**	-948	-775	-603	603	775	948
Profit or loss Short in £**	-806	-659	-513	513	659	806
Profit or loss Short in C$**	-1,363	-1,115	-867	867	1,115	1,363

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 07:50 am (GMT+1) 2/11/2021
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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