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 understand how CFDs work and whether you can afford to take the high risk of losing your money.

AUD/USD

Market Opportunities - 01/07/2019

01 July, 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:

AUD came under pressure on Monday after data in China suggested a contraction in their Manufacturing sector. Investors have also been careful as tomorrow the Reserve Bank of Australia meets, with market consensus expecting another interest rate cut of 25 basis points.

The US dollar rose after U.S. and China agreed on Saturday to restart trade talks after President Donald Trump offered concessions including no new tariffs and reducing restrictions on tech company Huawei in order to lessen hostilities with Beijing.

AUD/USD, July 1, 2019
Pivot point: 0.69959

AUD/USD

Weekly

Trend Direction

DOWN

Resistance 3

0.71981

Resistance 2

0.71381

Resistance 1

0.70780

Support 1

0.69087

Support 2

0.68495

Support 3

0.67827

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 in $

-2,022.00

-1,422.00

-821.00

872.00

1,464.00

2,132.00

Profit or loss in €*

-1,789.38

-1,258.41

-726.55

771.68

1,295.58

1,886.73

Profit or loss in £**

-1,589.75

-1,118.01

-645.49

685.59

1,151.03

1,676.23

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:15 (GMT +1) 01/07/2019
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

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