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 |
|
|
1.2043 |
|
|
1.2023 |
|
|
1.2003 |
|
|
1.1903 |
|
|
1.1883 |
|
|
1.1863 |
Example of calculation based on daily trend direction for 1.00 Lot*
|
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