CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

USD/CAD

Market Opportunities - 13/10/2021

13 October, 2021

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 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

UP

Resistance 3

1.2569

Resistance 2

1.2549

Resistance 1

1.2529

Support 1

1.2369

Support 2

1.2349

Support 3

1.2329

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

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

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

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Be aware of the holiday trading hours for:

  • Monday, 11 October 2021 for the Thanksgiving Holiday in Canada.
  • Thursday, 14 October 2021 for the Chung Yeung Day holiday in Hong Kong.
Instrument 11.10.2021 14.10.2021 15.10.2021
ALL FOREX Regular Regular Regular
Indices
Hong Kong 50 Regular Closed Regular
CAD 60 Closed Regular Regular
Equities
Canadian stock Closed Regular Regular
  • The above times may be subject to change.
  • Please note: In case of low liquidity in a specific instrument, Fortrade may widen the spreads or even close the instrument for trading. Notifications will be issued regarding any such changes to the trading schedule.
  • The dates preceding and following this holiday have the regular trading schedule.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.