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EUR/USD

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/USD uptrend opportunity based On 1.00 Lot Calculation:

  • The euro rose against the dollar on Friday, after European Central Bank President Christine Lagarde said that while the ECB is watching the exchange rate, it is not a monetary policy tool. Her comment suggested the ECB was unlikely to undertake measures to weaken the euro despite its recent gains, giving additional tail wind to Eurozone currency.
  • On the flip side the US Dollar was hitby worse than expected jobs data on Thursday, but what is more important, the US Senate control by Democrat rejected a Republican bill that included $500 billion Dollars in new aid, reasoning it as too low, making pressure to US Government to offer more aid to US citizens. The talks between Democrats and Republicans will continue next week with hope that the new aid measures will be worth much more than 500 billion Dollars.
  • According to the Technical analysis, EUR/USD price is above the positive trend line with strong support of major Technical indicators. The Daily Relative Strength Index is at upturn, breaching above 50 and closing level of 70 which can be considered as a first Resistance level, If the pair price manages to stay above 1.1800, there is a possibility that the EUR/USD may increase toward Resistance 1 level of 1.1923.

EUR/USD September 11, 2020
Current Price: 1.1830

EUR/USD

Weekly

Trend direction

UP

Resistance 3

1.2109

Resistance 2

1.2016

Resistance 1

1.1923

Support 1

1.1737

Support 2

1.1644

Support 3

1.1551

Example of calculation base on weekly trend direction for 1.00 Lot*

EUR/USD

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

2,790.00

1,860.00

930.00

-930.00

-1,860.00

-2,790.00

Profit or loss in €*

2,369.79

1,579.86

789.93

-789.93

-1,579.86

-2,369.79

Profit or loss in £**

2,155.44

1,436.96

718.48

-718.48

-1,436.96

-2,155.44

Profit or loss in C$

3,691.45

2,460.97

1,230.48

-1,230.48

-2,460.97

-3,691.45

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:40 (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.
*** 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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