EURUSD Weekly downtrend opportunity based on 1 Lot Calculation:
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The European Union is trying to agree on a sixth package of sanctions against Russia. Talks are still 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;
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The benchmark 10-year US Treasury bond yield is again touching 3%, while the 10-year German bund offers almost 2% less, a little above 1%;
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The dollar is at the highest level against the euro in the last six years, pointing to further strengthening.
EURUSD, May 18, 2022
Current Price: 1.0527
|
EUR/USD |
Weekly |
|
Trend Direction |
|
|
Resistance 3 |
1.0757 |
|
1.0707 |
|
|
1.0657 |
|
|
1.0397 |
|
|
1.0347 |
|
|
1.0297 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Profit or loss Short in $ |
-2,300 |
-1,800 |
-1,300 |
1,300 |
1,800 |
2,300 |
|
Profit or loss Short in €2 |
-2,186 |
-1,711 |
-1,236 |
1,236 |
1,711 |
2,186 |
|
Profit or loss Short in £2 |
-1,856 |
-1,453 |
-1,049 |
1,049 |
1,453 |
1,856 |
|
Profit or loss Short in C$2 |
-2,953 |
-2,311 |
-1,669 |
1,669 |
2,311 |
2,953 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 10:20 (GMT+1) 18/5/2022
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Client Manager for more details