EUR/USD Weekly downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Wednesday, November 23, 08:30 AM GMT – The German Manufacturing PMI for November (preliminary). The index of economic activity (sentiment) is expected to further drop from 57.8 to 56.5 points;
- The ECB officials reject the idea of an interest rate hike next year, while market participants believe/speculate the US Federal Reserve will be forced to do it twice in 2022 due to accelerating inflation in the US;
- The worsening health situation in Germany, Austria and the Netherlands is also weighing on the shared European currency.
EUR/USD, November 16, 2021
Current Price: 1.1368
EUR/USD |
Weekly |
Trend Direction |
|
1.1478 |
|
1.1458 |
|
1.1438 |
|
1.1298 |
|
1.1278 |
|
1.1258 |
Example of calculation based on weekly trend direction for 1.00 Lot*
Profit or loss Short in $ |
-1,100 |
-900 |
-700 |
700 |
900 |
1,100 |
Profit or loss Short in €** |
-967 |
-792 |
-616 |
616 |
792 |
967 |
Profit or loss Short in £** |
-818 |
-669 |
-521 |
521 |
669 |
818 |
Profit or loss Short in C$** |
-1,379 |
-1,129 |
-878 |
878 |
1,129 |
1,379 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 14:40 pm (GMT) 16/11/2021
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