EURUSD Weekly downtrend opportunity based On 1.00 Lot Calculation:
- EVENT: Tuesday, March 30 at 1:00 pm GMT – German CPI for March. The inflation is expected to further decelerate indicating the weakness of the German economy;
- The rollout of vaccines in the EU is slow compared to the US inoculation process, which is speeding up. This indicates that the US economy might recover much earlier than the euro zone’s economy;
- The currency pair is in a (long-term) downtrend that may continue.
EURUSD, March 23, 2021
Current Price: 1.1894
|
EUR/USD |
Weekly |
|
Trend direction |
|
|
1.2034 |
|
|
1.2014 |
|
|
1.1994 |
|
|
1.1794 |
|
|
1.1774 |
|
|
1.1754 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
Pivot Points |
||||||
|
Profit or loss in $ |
-1,400 |
-1,200 |
-1,000 |
1,000 |
1,200 |
1,400 |
|
Profit or loss in €* |
-1,177 |
-1,009 |
-841 |
841 |
1,009 |
1,177 |
|
Profit or loss in £** |
-1,017 |
-871 |
-726 |
726 |
871 |
1,017 |
|
Profit or loss in C$** |
-1,762 |
-1,510 |
-1,258 |
1,258 |
1,510 |
1,762 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:15 am (GMT) 23/3/2021
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 detail