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 - 07/09/2021

07 September, 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: Thursday, September 9, 13:30 GMT+1 – The ECB monetary policy meeting (press conference): The Frankfurt-based monetary institution will probably maintain its policy unchanged as Europe emerges from the Covid-19 pandemic. The key rate will not be changed.
  • The Reuters’ poll indicate that most experts are confident that the ECB will announce a reduction in the pace of emergency bond purchases from the fourth quarter which is supporting for the euro.
  • The currency pair is in the long-term uptrend that may continue.

EUR/USD, September 7, 2021
Current Price: 1.1870

EUR/USD

Weekly

Trend Direction

UP

Resistance 3

1.2090

Resistance 2

1.2050

Resistance 1

1.1990

Support 1

1.1750

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 $

2,200

1,800

1,200

-1,200

-1,650

-2,200

Profit or loss Short in €**

1,852

1,516

1,010

-1,010

-1,389

-1,852

Profit or loss Short in £**

1,590

1,301

867

-867

-1,192

-1,590

Profit or loss Short in C$**

2,760

2,258

1,505

-1,505

-2,070

-2,760

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:40 am (GMT+1) 7/9/2021
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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