EUR/USD Daily downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Wednesday, November 3, 07:30 PM GMT+1 – The US Federal Reserve’s meeting end with an accompanying media conference of the Fed Chair Jerome Powell. The Fed is widely expected to reduce its asset purchases by $15 billion each month going forward and end the quantitative easing program by mid-2022.
- If the Fed puts more emphasis on inflation concerns than the economic slowdown as Powell did in one of his most recent public appearances on October 22, that could weigh on the EUR/USD.
EUR/USD, November 3, 2021
Current Price: 1.1589
EUR/USD |
Daily |
Trend Direction |
|
1.1679 |
|
1.1659 |
|
1.1639 |
|
1.1539 |
|
1.1519 |
|
1.1499 |
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 €** |
-777 |
-604 |
-432 |
432 |
604 |
777 |
Profit or loss Short in £** |
-661 |
-514 |
-367 |
367 |
514 |
661 |
Profit or loss Short in C$** |
-1,117 |
-868 |
-620 |
620 |
868 |
1,117 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 07:30 am (GMT+1) 3/11/2021
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