EUR/USD Weekly uptrend opportunity based on 1.00 Lot Calculation:
- EVENT: Thursday, June 10, 13:30 GMT+1 – The ECB monetary policy meeting (press conference) & US CPI figures for May. The Frankfurt-based monetary institution will probably maintain its policy unchanged as Europe emerges from the Covid-19 pandemic.
The US inflation (Consumer Price Index) has been accelerating in the last few months that put pressure on the dollar, while inflation in the EU remains much lower. - As Europe is moving to a full reopening, business and consumer sentiment figures have been upbeat and all major economic indicators are pointing to a solid and sustained post-pandemic recovery;
- The currency pair is in the long-term uptrend that may continue.
EUR/USD, June 7, 2021
Current Price: 1.2147
|
EUR/USD |
Weekly |
|
Trend Direction |
|
|
1.2287 |
|
|
1.2267 |
|
|
1.2247 |
|
|
1.2047 |
|
|
1.2027 |
|
|
1.2007 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
1,400 |
1,200 |
1,000 |
-1,000 |
-1,200 |
-1,400 |
|
Profit or loss Short in €** |
1,151 |
987 |
822 |
-822 |
-987 |
-1,151 |
|
Profit or loss Short in £** |
990 |
849 |
707 |
-707 |
-849 |
-990 |
|
Profit or loss Short in C$** |
1,692 |
1,450 |
1,208 |
-1,208 |
-1,450 |
-1,692 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:50 am (GMT+1) 7/6/2021
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