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USA 100

Market Opportunities - 06/10/2020

06 October, 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.

USA 100 uptrend opportunity based On 1.00 Lot Calculation:

  • USA100 futures continued to rise on Thursday morning on increasing sentiment that US lawmakers would reach a compromise on a new stimulus deal.
  • The US House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin held a phone call Monday and discussed the justifications for various numbers and plan to exchange paper in preparation for further discussions on Tuesday, which increased investor’s appetite for riskier assets and pushed stock indices over 1% higher on Monday.
  • Optimism for reaching a compromise rose recently after Pelosi said Trump’s diagnosis could change the dynamic of talks toward an agreement. Pelosi on Friday called on the airline industry to delay furloughs, saying additional relief for the industry is “imminent.”
  • Beside expected new stimulus measures, we are watching development of coronavirus vaccines which is in late stage of testing and analysts expect positive test data from several companies by the end of October.
  • Technically, according to the Daily chart, US100 managed to stay on a positive track above the positive trend line despite price correction during September. The 200-days and 50-days Moving averages which can be considered as a strong long and short term indicator are both below current price suggesting that the positive trend will extend. The daily Relative Strength Index bounced back and breached above 50 meaning that the price can go up to the level of 70 which can be considered as a first resistance level. As long as the price is above the 200-day Moving average and RSI stay above 50, there is a possibility the US100 can go up toward Resistance 1 of 11970.

USA 100, October 06, 2020
Current Price: 11,450.0

USA100

Weekly

Trend direction

UP

Resistance 3

13,010.0

Resistance 2

12,490.0

Resistance 1

11,970.0

Support 1

10,930.0

Support 2

10,410.0

Support 3

9,890.0

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

USA100

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

15,600.00

10,400.00

5,200.00

-5,200.00

-10,400.00

-15,600.00

Profit or loss in €*

13,237.17

8,824.78

4,412.39

-4,412.39

-8,824.78

-13,237.17

Profit or loss in £**

12,020.81

8,013.87

4,006.94

-4,006.94

-8,013.87

-12,020.81

Profit or loss in C$

20,698.24

13,798.82

6,899.41

-6,899.41

-13,798.82

-20,698.24

* 1.00 lot is equivalent of 10 units
** Calculations for exchange rate used as of 08:25 (GMT+1) 06/10/2020
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** Please 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 details

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