EURUSD Weekly downtrend opportunity based on 1 Lot Calculation:
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EVENT: Friday, July 8 at 13:30 GMT+1 – Non-farm Payroll data (NFP) data for June. It is expected that the number of newly created jobs in June in the US labor market increased by 290.000 and that the unemployment rate remained the same at 3.6%, firmly below the Fed target of 4%;
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The U.S. dollar strengthened on raised expectations of aggressive monetary policy tightening by the US Federal Reserve, while the euro is still weighed by detrimental sanctions on Russia for the euro zone economy and the ongoing war in Ukraine with no solution on the horizon.
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The dollar is very close to the lowest level against the dollar since fall 2016 and may test that level again in days to come.
EURUSD, July 1, 2022
Current Price: 1.0466
|
EUR/USD |
Weekly |
|
Trend Direction |
|
|
Resistance 3 |
1.0716 |
|
1.0666 |
|
|
1.0616 |
|
|
1.0316 |
|
|
1.0266 |
|
|
1.0216 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Profit or loss Short in $ |
-2,500 |
-2,000 |
-1,500 |
1,500 |
2,000 |
2,500 |
|
Profit or loss Short in €2 |
-2,392 |
-1,914 |
-1,435 |
1,435 |
1,914 |
2,392 |
|
Profit or loss Short in £2 |
-2,064 |
-1,652 |
-1,239 |
1,239 |
1,652 |
2,064 |
|
Profit or loss Short in C$2 |
-3,234 |
-2,587 |
-1,940 |
1,940 |
2,587 |
3,234 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 09:00 (GMT+1) 1/7/2022
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