CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.
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 can afford to take the high risk of losing your money.
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EUR/USD

Special Reports - 09/01/2023

09 January, 2023

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 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.

EUR/USD weekly special report based On 1.00 Lot Calculation:

· EVENT (Thursday, January 12 at 13:30 GMT): US CPI for December will be released. It is expected that year on year CPI slows down to 6,5% compared to 7,1% for November.

· EVENT (Wednesday, February 1 at 19:00 GMT): US CPI for December will be released. It is expected that Federal reserve increase its interest rate by 0,25%

· EVENT (European Central Bank, interest rate decision). It is expected that ECB will continue to its restrictive monetary policy hence it is expected that interest rate will be increased by 0,50%

· ANALYST OPINION: BANK OF AMERICA forecasts 1.10 in 2023. DEUTSCHE BANK forecasts 1.15 by late 2023.

#EURUSD, January 9, 2023
Current Price: 1.0719

EUR/USD

Weekly

Trend direction

UP

Resistance 3

1.1380

Resistance 2

1.1160

Resistance 1

1.0920

Support 1

1.0530

Support 2

1.0390

Support 3

1.0280

Example of calculation base on weekly trend direction for 1.00 Lot1

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

6,611

4,411

2,011

-1,889

-3,294

-4,389

Profit or loss in €2

6,168

4,115

1,876

-1,762

-3,073

-4,095

Profit or loss in £2

5,436

3,627

1,654

-1,553

-2,709

-3,609

Profit or loss in C$2

8,838

5,897

2,688

-2,525

-4,404

-5,867

1. 1.00 lot is equivalent of 100 units

2. Calculations for exchange rate used as of 13:47 (GMT) 09/01/2023
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

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital. Be Aware: You can lose all, but not more than the balance of your Trading Account. 76% of retail investor accounts lose money when trading CFDs with this provider. These products may not be suitable for all clients, therefore ensure, that you understand the risks and seek independent advice. Should you proceed with investment in CFDs on virtual currencies, please note, that the values are highly volatile and may result in a significant loss for a short period of time. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. 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. The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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