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EUR/USD - 30/09/2019

Micro Analysis

30 September, 2019

For General Information only. Not Intended to Provide Trading or Investment Advice. Your Capital is at Risk.

WEEKLY TREND: DOWN

  • Technical Outlook

EUR/USD has remained on the downside, trading in a very convincing downtrend channel. The EUR/USD could happen to target this week's levels below the mark of 1.0900 if it continues to follow the pattern set up in recent days. To the downside, the EUR/USD could be expected to target Support 1 of 1.08845.

If, however, the EUR/USD manages to return above its Pivot point of 1.09468, the pair may target its weekly Resistance 1 of 1.10050.

Pivot Point:

1.09468

Resistance 3:

1.11255

Resistance 2:

1.10747

Resistance 1:

1.10050

Support 1:

1.08845

Support 2:

1.08337

Support 3:

1.07640


Graph: (EUR/USD, Daily)

Example of calculation based on weekly direction for 1.00 Lot*

EUR/USD*

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

-1,787.00

-1,279.00

-582.00

623.00

1,131.00

1,828.00

Profit or loss in €***

-1,634.76

-1,170.03

-532.42

569.92

1,034.64

1,672.26

Profit or loss in £***

-1,452.80

-1,039.80

-473.16

506.49

919.48

1,486.13

* 1.00 lot is equivalent of 100 000 units
*** Calculations for exchange rate used as of 10:04 am (GMT +1) 30/09/2019
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 profit – Ask your Senior Account Manager for more details

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