USD/CAD Weekly uptrend opportunity based on 1.00 Lot Calculation:
- EVENT: Friday, December 3 at 13:30 GMT – US Nonfarm Payrolls (NFP) for November. The figures are expected to show that the US economy added around 550,000 new jobs in the last month. The unemployment rate is expected to drop further from 4.6% to 4.5%;
At the same time, the latest figures from the Canadian labor market will be published. Forecast is that the Canadian labor market created only 35,000 jobs in November, while labor productivity dropped; - The loonie is negatively affected by the sharp drop of oil prices as Canada is the fourth largest oil exporter in the world.
USD/CAD, December 1, 2021
Current Price: 1.2739
USD/CAD |
Weekly |
Trend Direction |
|
1.2859 |
|
1.2839 |
|
1.2819 |
|
1.2659 |
|
1.2639 |
|
1.2619 |
Example of calculation based on weekly trend direction for 1.00 Lot*
Profit or loss Short in $ |
941 |
784 |
628 |
-628 |
-784 |
-941 |
Profit or loss Short in €** |
831 |
693 |
554 |
-554 |
-693 |
-831 |
Profit or loss Short in £** |
707 |
589 |
471 |
-471 |
-589 |
-707 |
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 10:30 am (GMT) 1/12/2021
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