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EUR/USD

Market Opportunities - 14/06/2021

14 June, 2021

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 Weekly uptrend opportunity based on 1.00 Lot Calculation:

  • EVENT: Wednesday, June 16, 07:00 PM GMT+1 – The US Federal Reserve’s interest rate decision with an accompanying media conference of the Fed Chair Jerome Powel.
  • 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 of the euro zone economy;
  • The currency pair is in the long-term uptrend that may continue.

EUR/USD, June 14, 2021
Current Price: 1.2109

EUR/USD

Weekly

Trend Direction

UP

Resistance 3

1.2229

Resistance 2

1.2209

Resistance 1

1.2189

Support 1

1.2029

Support 2

1.2009

Support 3

1.1989

Example of calculation based 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 Short in $

1,200

1,000

800

-800

-1,000

-1,200

Profit or loss Short in €**

991

825

660

-660

-825

-991

Profit or loss Short in £**

852

710

568

-568

-710

-852

Profit or loss Short in C$**

1,459

1,216

973

-973

-1,216

-1,459

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:05 am (GMT+1) 14/6/2021
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

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