USD/CAD Daily uptrend opportunity based on 1.00 Lot Calculation:
- EVENT: Wednesday, October 13 - The U.S. CPI data for September. The last month, Core CPI stood at 4%, while the headline inflation was 5.3%;
- With rising energy prices and wages in the US, inflation will probably show no signs of easing. Market participants seem to believe that the US Federal Reserve’s reduction in bond purchases will begin in November. The 10-year Treasury yield rose around 1.6% providing support to the US currency.
USD/CAD, October 13, 2021
Current Price: 1.2449
|
USD/CAD |
Weekly |
|
Trend Direction |
|
|
1.2569 |
|
|
1.2549 |
|
|
1.2529 |
|
|
1.2369 |
|
|
1.2349 |
|
|
1.2329 |
Example of calculation based on daily trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
963 |
803 |
642 |
-642 |
-803 |
-963 |
|
Profit or loss Short in €** |
834 |
695 |
556 |
-556 |
-695 |
-834 |
|
Profit or loss Short in £** |
708 |
590 |
472 |
-472 |
-590 |
-708 |
|
Profit or loss Short in C$** |
1,200 |
1,000 |
800 |
-800 |
-1,000 |
-1,200 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 07:10 am (GMT+1) 13/10/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client 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 Client Manager for more details