EURUSD Weekly downtrend opportunity based on 1 Lot Calculation:
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EVENT: Wednesday, May 4 at 19:30 GMT+1 – The US Federal Reserve’s press conference following the conclusion of a regular monetary policy meeting. The U.S. dollar is strengthening on raised expectations for aggressive monetary policy outlook by the US Federal Reserve by the end of this year. Chairman Jerome Powell vowed to support half of a percentage point rate hike at the upcoming meeting;
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The euro is heavily weighed by the prospect of (detrimental effects of) additional sanctions on Russia and the ongoing war in Ukraine with no solution on the horizon yet;
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The EUR/USD is at its lowest level in more than two years.
EURUSD, April 26, 2022
Current Price: 1.0689
EUR/USD |
Weekly |
Trend Direction |
|
1.0879 |
|
1.0839 |
|
1.0799 |
|
1.0579 |
|
1.0539 |
|
1.0499 |
Example of calculation based on weekly trend direction for 1 Lot1
Profit or loss Short in $ |
-1,900 |
-1,500 |
-1,100 |
1,100 |
1,500 |
1,900 |
Profit or loss Short in €2 |
-1,781 |
-1,406 |
-1,031 |
1,031 |
1,406 |
1,781 |
Profit or loss Short in £2 |
-1,500 |
-1,184 |
-868 |
868 |
1,184 |
1,500 |
Profit or loss Short in C$2 |
-2,426 |
-1,915 |
-1,404 |
1,404 |
1,915 |
2,426 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 13:35 (GMT+1) 26/4/2022
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