EUR/USD weekly special report based On 1.00 Lot Calculation:
·EVENT Wednesday (July 26 at 19:00 GMT+1): Federal reserve interest rate decision. In the upcoming Federal Reserve meeting according to the CME FedWatch Tool currently there is a 99.8% probability that the US benchmark interest rate will be increased from 5,25% to 5,50%. According to the CME FedWatch Tool, the upcoming interest rate hike in the US will be the last one, hence that could be a long term negative signal for the US dollar.
·EVENT Thursday (July 27 at 13:15 GMT+1): European central bank, interest rate decision. According to Bloomberg, the European central bank will increase the interest rate from 4,00% to 4,25%. Market participants forecast that there will be more interest rate hikes in the Eurozone as high inflation is still present in Europe
·TECHNICAL ANALYSIS: Stochastic oscillator on the four-hour graph chart shows that this pair is in oversell area which could indicate current trend might change.
EURUSD, July 25, 2023
Current Price: 1.1080
EUR/USD |
Weekly |
Trend direction |
|
1.1400 |
|
1.1300 |
|
1.1200 |
|
1.0980 |
|
1.0900 |
|
1.0800 |
Example of calculation base on weekly trend direction for 1.00 Lot1
Pivot Points |
||||||
Profit or loss in $ |
3,200 |
2,200 |
1,200 |
-1,000 |
-1,800 |
-2,800 |
Profit or loss in €² |
2,999 |
2,062 |
1,125 |
-937 |
-1,687 |
-2,624 |
Profit or loss in £² |
2,581 |
1,775 |
968 |
-807 |
-1,452 |
-2,259 |
Profit or loss in C$² |
4,295 |
2,953 |
1,611 |
-1,342 |
-2,416 |
-3,758 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 08:16 (GMT+1) 25/7/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient 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 Senior Account ManagerClient Manager for more details