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 - 02/05/2019

02 May, 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 uptrend opportunity based On 1.00 Lot Calculation:

The Bank of England on Thursday held the UK interest rate at 0.75% as expected, despite rising pressure on inflation. The UK pound has lately strengthened on speculation Brexit talks between the British government and the main opposition party were making some progress. Downing Street now expects that cross-party talks with senior shadow ministers and officials to continue this week after participants on Monday emerged optimistic about a change in tone and a feeling there were grounds to continue discussions.

The European Central Bank has pinned its hopes on the economy recovering in the second half of the year. Policy makers have indicated that updated forecasts in June will be key in determining the generosity of their new bank-lending program. The euro area’s manufacturing slump showed tentative improvement in April as Italy’s contraction slowed markedly and French industry stopped shrinking.

EUR/GBP, May 2, 2019
Pivot point: 0.857

EUR/GBP

Weekly

Trend Direction

UP

Resistance 3

0.886

Resistance 2

0.878

Resistance 1

0.868

Support 1

0.846

Support 2

0.846

Support 3

0.830

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 in $

3,856.00

2,797.37

1,450.24

-1,375.84

-1,375.84

-3,433.07

Profit or loss in €*

3,442.46

2,497.36

1,294.71

-1,228.29

-1,228.29

-3,064.89

Profit or loss in £**

2,954.00

2,143.00

1,111.00

-1,054.00

-1,054.00

-2,630.00

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 12:15 (GMT +1) 02/05/2019
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

Share It With Your Network
Euro - Pound Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now