CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

EURUSD

Market Opportunities - 26/04/2022

26 April, 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 opportunity for 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.

EURUSD Weekly downtrend opportunity based on 1 Lot Calculation:

  • 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;

  • 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;

  • 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

DOWN

Resistance 3

1.0879

Resistance 2

1.0839

Resistance 1

1.0799

Support 1

1.0579

Support 2

1.0539

Support 3

1.0499

Example of calculation based on weekly trend direction for 1 Lot1

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

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
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