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 |
|
|
1.2090 |
|
|
1.2050 |
|
|
1.1990 |
|
|
1.1750 |
|
|
1.1705 |
|
|
1.1650 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
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