CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.

Silver

Market Opportunities - 10/08/2020

10 August, 2020

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.

Silver uptrend opportunity based On 1.00 Lot Calculation:

  • Demand for safe haven instruments is still high due to the increase in the number of people infected with covid-19 and ongoing tensions between US and China.
  • Gold/Silver ratio is at the lowest since 2017 which is giving space to future rise in Silver prices.
  • Hopes on China economic stabilization are increasing the demand for Silver due to its industrial usage in solar panels which are heavily produced in China.

Silver, August 10, 2020
Pivot point: 28.344

SILVER

Weekly

Trend direction

UP

Resistance 3

31.100

Resistance 2

30.500

Resistance 1

29.600

Support 1

27.101

Support 2

26.343

Support 3

25.882

Example of calculation base on weekly trend direction for 1.00 Lot*

SILVER

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

28,440.00

22,440.00

11,700.00

-11,550.00

-19,130.00

-23,740.00

Profit or loss in €**

24,181.21

19,079.69

9,947.96

-9,820.43

-16,265.35

-20,185.02

Profit or loss in £**

21,790.93

17,193.69

8,964.62

-8,849.69

-14,657.54

-18,189.76

Profit or loss in C$**

38,080.02

30,046.26

15,665.83

-15,464.99

-25,614.30

-31,786.91

* 1.00 lot is equivalent of 10 000 units
** Calculations for exchange rate used as of 10:10 (GMT+1) 10/08/2020
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account 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 Senior Account Manager for more detail

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