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 - 13/05/2022

13 May, 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: Sixth EU sanctions package vs Russia to be reached in the next days – The European Union is closing in on agreeing a sixth package of sanctions against Russia. Talks are ongoing, they are well advanced and a phased out ban on oil imports from Russian could be agreed in the next few days. Hungary and Slovakia will probably be given waivers from them. To sanction or not to sanction is sort of a “lose lose” scenario for the EU. If it goes with them it will hurt the euro zone economy. If they don’t, question over European unity will negatively affect the political union;

  • The euro is also pressured by the decision of Finland to join the NATO, which increases chances of further escalation of relations between the EU and Russia;

  • The dollar is at the highest level against the euro in the last six years, pointing to further strengthening.

EURUSD, May 13, 2022
Current Price: 1.0403

EUR/USD

Weekly

Trend Direction

DOWN

Resistance 3

1.0643

Resistance 2

1.0583

Resistance 1

1.0523

Support 1

1.0283

Support 2

1.0223

Support 3

1.0163

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 $

-2,400

-1,800

-1,200

1,200

1,800

2,400

Profit or loss Short in €2

-2,311

-1,733

-1,156

1,156

1,733

2,311

Profit or loss Short in £2

-1,970

-1,477

-985

985

1,477

1,970

Profit or loss Short in C$2

-3,123

-2,343

-1,562

1,562

2,343

3,123

1. 1 lot is equivalent of 100,000 units

2. Calculations for exchange rate used as of 01:30 (GMT+1) 13/5/2022

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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