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AUD/USD

Market Opportunities - 13/11/2019

13 November, 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 started this week in a negative mood undermined by renewed US-China trade uncertainty and unrest in Hong Kong. Australia NAB Business Survey unexpectedly improves in October. RBA has cut its benchmark rate three times to 0.75% since June and economists expect at least one more easing by early 2020 to revive growth and inflation.

In the US, Donald Trump, in an economic address in New York, gave little indication that a breakthrough in China trade talks was imminent.

AUD/USD, November 13, 2019
Pivot point: 0.684

AUD/USD

Weekly

Trend Direction

DOWN

Resistance 3

0.700

Resistance 2

0.696

Resistance 1

0.693

Support 1

0.675

Support 2

0.671

Support 3

0.667

Example of calculation base on weekly trend direction for 1.00 Lot*

AUD/USD

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

-1,589.00

-1,228.00

-907.00

943.00

1,289.00

1,679.00

Profit or loss in €*

-1,443.04

-1,115.20

-823.68

856.38

1,170.59

1,524.77

Profit or loss in £**

-1,238.50

-957.13

-706.94

735.00

1,004.68

1,308.65

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 9:10 (GMT) 13/11/2019
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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