EUR/USD weekly downtrend opportunity based On 1.00 Lot Calculation:
- EVENT: U.S. INFLATION FOR JULY (Wednesday, August 10th, 13:30 GMT+1). US Headline Inflation is expected to come down from 9.1% to 8.7% in July. The Core Inflation, however, is expected to rise from 5.9% to 6.1%. Inflation remains strong despite the U.S. Federal Reserve’s latest attempts to reign it in with higher rates.
- EUROPEAN ECONOMY REMAINS UNDER THREAT OF RECESSION AS RUSSIAN NATURAL GAS FLOWS FROM RUSSIA REMAIN LOW. Recent economic data in Europe and Germany, in particular, has shown that the EU economy continued to fall and reduced natural gas flows from Russia to Germany could exacerbate this situation as Russia provided German with 55% of their needs last year. Without the Russian gas, The German economy could soon enter a recession, which is negative for the Euro currency.
- US- EUROPE INTEREST RATES DIFFERENTIALS IN FAVOUR OF THE US DOLLAR: The interest rates (FED) in the US have gone up recently to 2.5%, while the benchmark interest rate in Europe has gone up to 0.50%. The difference between the two remains 2% points in favor of the US dollar, which makes the US dollar more attractive that the Euro. This could be another reason why the US dollar could continue strengthening against the Euro.
EUR/USD, August 8, 2022
Current Price: 1.0208
|
EUR/USD |
Weekly |
|
Trend direction |
|
|
1.0400 |
|
|
1.0370 |
|
|
1.0350 |
|
|
1.0050 |
|
|
1.0000 |
|
|
0.9950 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
EUR/USD |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
-1,920.00 |
-1,620.00 |
-1,420.00 |
1,580.00 |
2,080.00 |
2,580.00 |
|
Profit or loss in €2 |
-1,884.29 |
-1,589.87 |
-1,393.59 |
1,550.62 |
2,041.32 |
2,532.02 |
|
Profit or loss in £2 |
-1,587.54 |
-1,339.49 |
-1,174.12 |
1,306.41 |
1,719.83 |
2,133.25 |
|
Profit or loss in C$2 |
-2,477.47 |
-2,090.37 |
-1,832.30 |
2,038.75 |
2,683.93 |
3,329.10 |
1. 1.00 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 08:50 (GMT+1) 08/08/2022
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