EUR/USD

Special Reports - 27/01/2022

27 January, 2022

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 Weekly downtrend opportunity based on 1.00 Lot Calculation:

Yesterday, the US Federal Reserve Chairman Jerome Powell's hawkish remarks triggered a dollar rally and weighed heavily on all major currencies against the (strengthening) dollar.
On the other hand, European Central Bank President Christine Lagarde stated a few days ago that the ECB is not seeing signs that the euro area will experience the same inflation as the US is facing. This dovish message weighed on the euro since then;
The currency pair is in the long-term downtrend that may continue.

EUR/USD, January 27, 2022
Current Price: 1.1215

EUR/USD	Weekly
Trend Direction	DOWN
Resistance 3	1.1315
Resistance 2	1.1295
Resistance 1	1.1275
Support 1	1.1155
Support 2	1.1135
Support 3	1.1115

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 $	-1,000	-800	-600	600	800	1,000
Profit or loss Short in €**	-881	-705	-529	529	705	881
Profit or loss Short in £**	-734	-587	-441	441	587	734
Profit or loss Short in C$**	-1,248	-998	-749	749	998	1,248

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 07:50 am (GMT+1) 27/1/2022
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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