EUR/USD weekly special report based On 1.00 Lot Calculation:
· EVENT (Tuesday, February 14 at 13:30 GMT): US CPI and Core CPI. After the NFP report that was released on February 2 showed strong labor data, market participants will closely analyze inflation data from the US in order to further assess next Federal Reserve steps. It is estimated that CPI will decrease from 6.5% to 6.2% (source: Bloomberg).
·EVENT (Thursday, February 23 at 11:00 GMT): EU CPI and Core CPI. According to estimation, inflation is still a challenge to the eurozone economy. Currently, eurozone CPI stands at 8,5%. Additionally, at the last European central bank meeting, it was announced that there will be at least one more 0,50% interest rate increase.
· ANALYST OPINION: BANK OF AMERICA forecasts 1.10 in 2023. DEUTSCHE BANK forecasts 1.15 by late 2023, MORGAN STANLEY forecast 1.15 in 2023.
EURUSD, February 7, 2023
Current Price:1.0710
|
EUR/USD |
Weekly |
|
Trend direction |
|
|
1.1200 |
|
|
1.1000 |
|
|
1.0860 |
|
|
1.0580 |
|
|
1.0500 |
|
|
1.0450 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
4,900 |
2,900 |
1,500 |
-1,300 |
-2,100 |
-2,600 |
|
Profit or loss in €² |
4,564 |
2,701 |
1,397 |
-1,211 |
-1,956 |
-2,422 |
|
Profit or loss in £² |
4,067 |
2,407 |
1,245 |
-1,079 |
-1,743 |
-2,158 |
|
Profit or loss in C$² |
6,573 |
3,890 |
2,012 |
-1,744 |
-2,817 |
-3,488 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 09:18 (GMT) 7/2/2023
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