CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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/CHF

Market Opportunities - 05/02/2020

05 February, 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/CHF an uptrend opportunity based On 1.00 Lot Calculation:

According to the latest news, a significant breakthrough in the fight against coronavirus has been made by scientists in the UK. The Chinese TV also reported that the research team at Zhejiang University has made an effective drug to treat infected people. Consequently, the demand for the (par excellence) safe haven currencies, such as the Swiss franc, has been diminishing.

Today, at 15:00 GMT, the US PMI Services index is expected.

USD/CHF, February 5, 2020
Current Price: 0.9718

USD/CHF

Daily

Trend Direction

UP

Resistance 3

0.9806

Resistance 2

0.9783

Resistance 1

0.9767

Support 1

0.9670

Support 2

0.9655

Support 3

0.9633

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 $

908

757

492

-484

-741

-893

Profit or loss Short in €

824

687

446

-440

-673

-810

Profit or loss Short in £

698

581

378

-372

-570

-686

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:35 AM GMT 05/02/2020
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** Please 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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