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.

EUR/GBP

Market Opportunities - 11/09/2020

11 September, 2020

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.

EUR/GBP uptrend opportunity based On 1.00 Lot Calculation:

  • On Friday, the economic data showed that UK GDP rose less than expected, while the trade deficit widened. Brexit impasse is putting pressure on the pound and markets increasingly price in Bank of England’s rate cut.
  • Yesterday, the ECB maintained its projections for GDP growth this year and expressed confidence in strong rebound of the euro zone economy.

EUR/GBP, September 11, 2020
Current price: 0.9233

EUR/GBP

Weekly

Trend Direction

UP

Resistance 3

0.9373

Resistance 2

0.9353

Resistance 1

0.9333

Support 1

0.9133

Support 2

0.9113

Support 3

0.9093

Example of calculation based 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 $

1,795

1,538

1,282

-1,282

-1,538

-1,795

Profit or loss Short in €**

1,516

1,299

1,083

-1,083

-1,299

-1,516

Profit or loss Short in £**

1,182

1,200

1,000

-1,000

-1,200

-1,400

Profit or loss Short in C$**

2,366

2,028

1,690

-1,690

-2,028

-2,366

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 13:50 (GMT+1) 11/09/2020
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account 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 Senior Account Manager for more details

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