CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

EUR/USD

Market Opportunities - 30/08/2021

30 August, 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: 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

UP

Resistance 3

1.1960

Resistance 2

1.1900

Resistance 1

1.1865

Support 1

1.1735

Support 2

1.1705

Support 3

1.1650

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 $

1,600

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

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