EUR/USD

Special Reports - 03/12/2021

03 December, 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 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 Daily downtrend opportunity based on 1.00 Lot Calculation:

EVENT: Friday, December 3, 13:30 GMT – US Nonfarm Payrolls (NFP) for November. The figures are expected to show that the US economy added around 550,000 new jobs in the last month. The unemployment rate is expected to drop further from 4.6% to 4.5%.
Germany decided yesterday to tighten restrictions for people unvaccinated against COVID-19. Those without the jab won't be able to access non-essential shops, restaurants, places of culture or leisure. In addition, Austria's lockdown has been extended until December 11. All this news weighs on the euro.

EUR/USD, December 3, 2021
Current Price: 1.1306

EUR/USD	Daily
Trend Direction	DOWN
Resistance 3	1.1401
Resistance 2	1.1381
Resistance 1	1.1361
Support 1	1.1251
Support 2	1.1231
Support 3	1.1211

Example of calculation based on daily 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 $	-950	-750	-550	550	750	950
Profit or loss Short in €**	-841	-664	-487	487	664	841
Profit or loss Short in £**	-716	-565	-414	414	565	716
Profit or loss Short in C$**	-1,218	-961	-705	705	961	1,218

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 08:00 am (GMT) 3/12/2021
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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