EUR/USD Weekly downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Friday, February 4, 13:30 GMT – The data from the US labor market for January (Non-farm payroll). It is expected that the US economy added around 150,000 new jobs in January and that the unemployment rate remained at 3.9%. The dollar didn’t suffer any noticeable losses after the last two (disappointing) releases. This time, the dollar may benefit from low expectations, especially if we see (any) positive surprises;
- European Central Bank President, Christine Lagarde, said a week ago that the ECB is not seeing signs that the euro area will experience the same inflation as the US is facing. This means that interest rates in the euro zone may stay at low levels for a foreseeable future, which is negative for the euro;
- The currency pair is in the long-term downtrend that may continue.
EUR/USD, February 2, 2022
Current Price: 1.1321
|
EUR/USD |
Weekly |
|
Trend Direction |
|
|
1.1481 |
|
|
1.1461 |
|
|
1.1441 |
|
|
1.1201 |
|
|
1.1181 |
|
|
1.1161 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
-1,600 |
-1,400 |
-1,200 |
1,200 |
1,400 |
1,600 |
|
Profit or loss Short in €** |
-1,412 |
-1,236 |
-1,059 |
1,059 |
1,236 |
1,412 |
|
Profit or loss Short in £** |
-1,179 |
-1,032 |
-884 |
884 |
1,032 |
1,179 |
|
Profit or loss Short in C$** |
-2,026 |
-1,772 |
-1,519 |
1,519 |
1,772 |
2,026 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 13:40 (GMT) 2/2/2022
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