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EUR/USD

Market Opportunities - 17/06/2021

17 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 Daily downtrend opportunity based on 1.00 Lot Calculation:

  • The Federal Reserve surprised market participants by signaling two rate hikes in 2023. The Fed also revised its projection for the US GDP in 2021, from +6.5% to 7%, which is strengthening the US currency;
  • The currency pair is likely in the strong downward momentum that may continue for a while.

EUR/USD, June 17, 2021
Current Price: 1.1953

EUR/USD

Weekly

Trend Direction

DOWN

Resistance 3

1.2043

Resistance 2

1.2023

Resistance 1

1.2003

Support 1

1.1903

Support 2

1.1883

Support 3

1.1863

Example of calculation based on daily 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 $

-900

-700

-500

500

700

900

Profit or loss Short in €**

-753

-586

-418

418

586

753

Profit or loss Short in £**

-644

-501

-358

358

501

644

Profit or loss Short in C$**

-1,107

-861

-615

615

861

1,107

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:30 am (GMT+1) 17/6/2021
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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