AUD/USD

Market Opportunities - 21/03/2019

21 March, 2019

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 downtrend opportunity based On 1.00 Lot Calculation:

The Australian dollar should be expected to remain under negative pressure as the bigger economic picture in Australia still points to a possible interest rate cut in 2019 by the Reserve Bank of Australia. Domestic activity slowed sharply in the second half of last year, figures released in early March showed, with Gross Domestic Product (GDP Q4) rising 0.2% in the December quarter following a sub-par 0.3% in the previous three-month period. Annual GDP rose 2.3%, which is the slowest pace since mid-2017 and confounding expectations for a 2.5% increase. The pressure increased further as home prices continued to decline and household debt continued to rise. According to Reuters, an accelerating decline in Sydney and Melbourne home prices has eaten into consumer wealth at a time when they hold record levels of mortgage debt.

In the US, data on Thursday (March 21) reported much better than expected Philadelphia Fed manufacturing Index figures (13.7 vs. 4.6), which could support the US dollar.

AUD/USD, March 21, 2019
Pivot point: 0.71300

AUD/USD

Weekly

Trend Direction

DOWN

Resistance 3

0.73793

Resistance 2

0.72949

Resistance 1

0.72072

Support 1

0.70519

Support 2

0.69373

Support 3

0.68244

Example of calculation base 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 $

-2,493.00

-1,649.00

-772.00

781.00

1,927.00

3,056.00

Profit or loss Short in €

-2,189.70

-1,448.38

-678.08

685.98

1,692.56

2,684.21

Profit or loss Short in £

-1,895.50

-1,253.78

-586.97

593.82

1,465.15

2,323.57

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 14:19 GMT 21/3/2019
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** Please consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Senior Account Manager for more details

Share It With Your Network
Australian Dollar - US Dollar Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% 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.
Close

Be aware of the Working hours of the global financial markets for Good Friday / Easter 19.04.2019. - 22.04.2019.

Instrument 19.04.2019 22.04.2019
ALL FOREX Regular Regular
Indices
S&P 500 closed Regular
NASDAQ 100 closed Regular
DJ 30 closed Regular
DAX closed closed
FTSE 100 closed closed
CAC closed closed
IBEX35 closed closed
DJ_EUR50 closed closed
Nikkei 225 closed Regular
HSI closed closed
FTSEMIB40 closed closed
ASX 200 closed closed
Russell 2000 closed Regular
AEX25 closed closed
CHINA 50 closed Regular
SMI closed closed
DOLLAR INDEX closed Regular
Energy
Crude oil closed Regular
Brent Oil closed Regular
Natural Gas closed Regular
Heating oil closed Regular
Gasoline closed Regular
Commodities
Corn closed closed
Soybeans closed closed
Wheat closed closed
Sugar closed Late open - 11:30
Cotton No.2 closed Closed
Metals
Gold closed Regular
Silver closed Regular
Copper closed Regular
Palladium closed Regular
Platinum closed Regular
Bonds US
Bonds closed Regular
Equities
Equities Germany closed closed
Equities UK closed closed
Equities French closed closed
Equities Spain closed closed
Equities Italy closed closed
Equities US closed Regular

Please note: all times indicated are GMT.

Please note: In case of low liquidity in a specific FX or metals instrument, the DR may widen the spreads and even close the instrument for trading – every change of that character will be notified ahead by the DR.

The above times may be subject to change.

84% 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.