EUR/USD Weekly Special Report based on 1.00 Lot Calculation:
- THURSDAY, AUGUST 22 AT 09:00 GMT+: EUROZONE MANUFACTURING AND SERVICES PMI (AUGUST). The Manufacturing activity in the Eurozone remained in contraction, which has been the case since 2022. The Services activity however managed to return in the expansion territory which is supportive of the EUR.
- THURSDAY- SATURDAY (AUGUST 22 – AUGUST 24): FEDERAL RESERVE JACKSON HOLE SYMPOSIUM. The event takes place once a year and it is organized by the US Federal Reserve at the end of August each year. The event gathers up the most prominent central bankers in the world, including the President of the European Central Bank, the Bank of England Governor, the Bank of Japan Governor, etc. At this event, the Fed Chair holds a speech that would almost always include announcements about the future Fed interest rate policy, and it therefore it could increase the market volatility.
- FED CHAIR JEROME POWEL SPEECH (FRIDAY, AUGUST 23 AT 15:00 GMT+1). Fed Chair Jerome Powell has always held speeches at the Jackson Hole Symposium since he took office in 2018. This year’s topic is “Reassessing the Effectiveness and Transmission of Monetary Policy.”
- US FEDERAL RESERVE EXPECTED TO CUT RATES AGRESSIVELY STARTING SEPTEMBER 2024: The most recent economic turmoil in the US raised chances that the Fed could cut interest rates by 25 basis points in September, another 50 basis points in November and 25 basis points in December 2024. All in all, that could slash interest rates from the current 5.5% (the highest in over 20 years) to 4.50%. Falling interest rates in the US could put negative pressure on the US dollar.
EURUSD, AUGUST 21, 2024
Current Price:1.1100
|
EUR/USD |
Weekly |
|
Trend direction |
|
|
1.1600 |
|
|
1.1370 |
|
|
1.1195 |
|
|
1.1005 |
|
|
1.0980 |
|
|
1.0950 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
5,000.00 |
2,700.00 |
950.00 |
-950.00 |
-1,200.00 |
-1,500.00 |
|
Profit or loss in €² |
4,499.70 |
2,429.84 |
854.94 |
-854.94 |
-1,079.93 |
-1,349.91 |
|
Profit or loss in £² |
3,841.57 |
2,074.45 |
729.90 |
-729.90 |
-921.98 |
-1,152.47 |
|
Profit or loss in C$² |
6,809.55 |
3,677.16 |
1,293.81 |
-1,293.81 |
-1,634.29 |
-2,042.87 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 10:10 (GMT+1) 21/08/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.