EUR/GBP

Market Opportunities - 01/03/2019

01 March, 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.

EUR/GBP an uptrend opportunity based On 1.00 Lot Calculation:

Latest developments in the UK supported the growth of Sterling. British lawmakers approved the plan of British Prime Minister Theresa May on intensifying Brexit negotiations with EU in an attempt to reach an acceptable withdrawal agreement. However, EU leaders seem reluctant to approve any further changes in the agreement.

The UK economy continued to deteriorate in February. Factory activity continued to disappoint, while economic growth also slowed down. On the other hand, European Central Bank will hold a monetary policy meeting next week when it will make an interest rate decision and issue an announcement about its future monetary policy.

From the perspective of technical analysis, daily MACD, Stochastic and RSI are nearing the oversold area, which could indicate a potential uptrend.

EUR/GBP, March 1, 2019
Pivot point: 0.8570

EUR/GBP

Weekly

Trend Direction

UP

PIVOT POINTS

Resistance 3

0.8730

Resistance 2

0.8690

Resistance 1

0.8650

Support 1

0.8495

Support 2

0.8455

Support 3

0.8415

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 Short in $

2128

1596

1064

-997

-1529

-2061

Profit or loss Short in €

1868

1401

934

-876

-1343

-1810

Profit or loss Short in £

1600

1200

800

-750

-1150

-1550

* 1.00 lot is equivalent of 100.000 units
** Calculations for exchange rate used as of 10:40GMT 01/03/2019
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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