CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

AUD/USD

Special Reports - 30/11/2021

30 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: Friday, December 3, 13:30 GMT – US Nonfarm Payrolls (NFP) for November. The figures are expected to show that the US economy added around 550,000 new jobs in the last month. The unemployment rate is expected to drop further from 4.6% to 4.5%.
  • Risky currencies, the Aussie dollar especially, are negatively affected by the rise of risk aversion among market participants following the discovery of a new (omicron) variant of the corona virus.

AUD/USD, November 30, 2021
Current Price: 0.7133

AUD/USD

Weekly

Trend Direction

DOWN

Resistance 3

0.7233

Resistance 2

0.7213

Resistance 1

0.7193

Support 1

0.7073

Support 2

0.7053

Support 3

0.7033

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 €**

-880

-704

-528

528

704

880

Profit or loss Short in £**

-749

-600

-450

450

600

749

Profit or loss Short in C$**

-1,279

-1,024

-768

768

1,024

1,279

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:15 am (GMT) 30/11/2021
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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