AUDUSD Weekly uptrend opportunity based On 1.00 Lot Calculation:
- EVENT: Tuesday, March 2 - The Reserve Bank of Australia meeting is expected. The economic recovery is under way in Australia, while the reference rate is at its low (+0.1%). The central bank will offer an update of the economic outlook and how it sees the current situation in the Australian economy, along with a perspective of how future interest rates may evolve. Optimism might be expected to occur in the Reserve Bank’s official statement;
- Virus developments in Australia have been extremely positive with only 5-10 daily newly cases in the entire continent in February;
- The currency pair is in a strong (long-term) uptrend that may continue.
AUDUSD, February 24, 2021
Current Price: 0.7909
AUD/USD |
Weekly |
Trend direction |
|
0.8029 |
|
0.8009 |
|
0.7989 |
|
0.7829 |
|
0.7809 |
|
0.7789 |
Example of calculation base on weekly trend direction for 1.00 Lot*
Pivot Points |
||||||
Profit or loss in $ |
1,200 |
1,000 |
800 |
-800 |
-1,000 |
-1,200 |
Profit or loss in €** |
987 |
823 |
658 |
-658 |
-823 |
-987 |
Profit or loss in £** |
848 |
707 |
565 |
-565 |
-707 |
-848 |
Profit or loss in C$** |
1,509 |
1,257 |
1,006 |
-1,006 |
-1,257 |
-1,509 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:30 am (GMT) 24/2/2021
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