EUR/USD Weekly uptrend opportunity based on 1.00 Lot Calculation:
- EVENT: Tuesday, August 31, 10:00 PM GMT+1 – Inflation (CPI) - preliminary from EU will be published. It is expected to rise to 2.8% from 2.2% last month which may prompt ECB to start considering a change in its zero-interest rate policy.
- EVENT: Friday, September 3, 13:30 PM GMT+1 – Nonfarm Payrolls (NFP) for July. NFP measures the change in the number of people employed during the previous month, excluding the farming industry. It is expected to drop on 728K from 943K previous month. Investors are awaiting the U.S. nonfarm payroll data due on Friday to get new clues on when the asset tapering will start.
- If the number of newly created jobs drops as expected, the dollar downfall may continue.
EUR/USD, August 30, 2021
Current Price: 1.1800
EUR/USD |
Weekly |
Trend Direction |
|
1.1960 |
|
1.1900 |
|
1.1865 |
|
1.1735 |
|
1.1705 |
|
1.1650 |
Example of calculation based on weekly trend direction for 1.00 Lot*
Profit or loss Short in $ |
1,600 |
1,000 |
650 |
-650 |
-950 |
-1,500 |
Profit or loss Short in €** |
1,356 |
848 |
551 |
-551 |
-805 |
-1,271 |
Profit or loss Short in £** |
1,163 |
727 |
472 |
-472 |
-690 |
-1,090 |
Profit or loss Short in C$** |
2,019 |
1,262 |
820 |
-820 |
-1,199 |
-1,893 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:30 am (GMT+1) 30/8/2021
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