USD/CAD Weekly downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Wednesday, January 19 at 13:30 GMT – The December inflation data from Canada. In November, the headline inflation rose to 4.7%, a very high number that may push the Bank of Canada to its first interest rate hike, at the next meeting to be held at the end of January;
- The Loonie is benefiting from the sharp increase in oil prices as Canada is the fourth largest oil exporter in the world.
USD/CAD, January 12, 2022
Current Price: 1.2541
USD/CAD |
Weekly |
Trend Direction |
|
1.2681 |
|
1.2661 |
|
1.2641 |
|
1.2441 |
|
1.2421 |
|
1.2401 |
Example of calculation based on weekly trend direction for 1.00 Lot*
Profit or loss Short in $ |
-1,114 |
-955 |
-796 |
796 |
955 |
1,114 |
Profit or loss Short in €** |
-981 |
-841 |
-701 |
701 |
841 |
981 |
Profit or loss Short in £** |
-818 |
-701 |
-584 |
584 |
701 |
818 |
Profit or loss Short in C$** |
-1,400 |
-1,200 |
-1,000 |
1,000 |
1,200 |
1,400 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 07:40 am (GMT) 12/1/2022
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