AUDUSD Weekly downtrend opportunity based on 1 Lot Calculation:
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EVENT: Wednesday, June 15, at 20:00 GMT+1 - The US Fed Interest Rate Decision. The U.S. dollar is strengthening on raised expectations for (the continuation of) aggressive monetary policy by the end of this year. Many board members vowed to support quicker and bigger rate hike(s) in future, which is supportive for the US dollar;
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Metals prices dropped as concerns over the global economic growth surfaced again, so commodity-linked currencies like the Australian dollar might come under pressure.
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From a technical perspective, the Aussie seems to be oversold and is poised for correction.
AUDUSD, June 10, 2022
Current Price: 0.7100
|
AUD/USD |
Weekly |
|
Trend Direction |
|
|
0.7350 |
|
|
0.7300 |
|
|
0.7250 |
|
|
0.6950 |
|
|
0.6900 |
|
|
0.6850 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Profit or loss Short in $ |
-2,500 |
-2,000 |
-1,500 |
1,500 |
2,000 |
2,500 |
|
Profit or loss Short in €2 |
-2,361 |
-1,889 |
-1,416 |
1,416 |
1,889 |
2,361 |
|
Profit or loss Short in £2 |
-2,011 |
-1,609 |
-1,207 |
1,207 |
1,609 |
2,011 |
|
Profit or loss Short in C$2 |
-3,184 |
-2,547 |
-1,911 |
1,911 |
2,547 |
3,184 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 12:50 (GMT+1) 10/6/2022
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Client Manager for more details