EUR/USD weekly uptrend opportunity based On 1.00 Lot Calculation:
- The EUR/USD has managed to stay above the mark of 1.20 after its recent fall as the US dollar lost steam due to retreating 10- year Bond yields in the US.
- European Central Bank will meet on Thursday (January 21) at 12:45 GMT, while President Christine Lagarde will speak at 13:30 GMT. The bank is expected to continue to provide support to the EU economy as it has started recently to deploy a stimulus of around 1.8 trillion euros.
- From a technical perspective, the EUR/USD could be expected to experience an upward recovery as its Daily Relative Strength Index has recently fallen close to its oversold threshold of 30.
EUR/USD, January 21, 2021
Current Price: 1.21200
EUR/USD |
Weekly |
Trend direction |
|
1.2400 |
|
1.2300 |
|
1.2220 |
|
1.2025 |
|
1.1950 |
|
1.1900 |
Example of calculation base on weekly trend direction for 1.00 Lot*
EUR/USD |
||||||
Pivot Points |
||||||
Profit or loss in $ |
2,800.00 |
1,800.00 |
1,000.00 |
-950.00 |
-1,700.00 |
-2,200.00 |
Profit or loss in €** |
2,307.83 |
1,483.61 |
824.23 |
-783.01 |
-1,401.18 |
-1,813.30 |
Profit or loss in £** |
2,041.26 |
1,312.24 |
729.02 |
-692.57 |
-1,239.34 |
-1,603.85 |
Profit or loss in C$** |
3,533.54 |
2,271.56 |
1,261.98 |
-1,198.88 |
-2,145.37 |
-2,776.36 |
* 1.00 lot is equivalent of 100000 units
** Calculations for exchange rate used as of 8:50 a.m. (GMT) 21/01/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client 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 Client Manager for more details