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USD/CAD

Market Opportunities - 21/09/2020

21 September, 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.

USD/CAD uptrend opportunity based On 1.00 Lot Calculation:

  • Oil prices are sliding, while the (oversold) US dollar is strengthening across the broad and the number of infections in the world is rising sharply.
  • The US Congress is still far away from adopting a new program of stimulus package.

USD/CAD, September 21, 2020
Current Price: 1.3219

USD/CAD

Weekly

Trend direction

UP

Resistance 3

1.3359

Resistance 2

1.3339

Resistance 1

1.3329

Support 1

1.3109

Support 2

1.3099

Support 3

1.30790

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

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

1,059

908

832

-832

-908

-1,059

Profit or loss in €**

896

768

704

-704

-768

-896

Profit or loss in £**

696

705

646

-646

-705

-823

Profit or loss in C$**

1,400

1,200

1,100

-1,100

-1,200

-1,400

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:15 (GMT+1) 21/9/2020
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 details

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