EUR/USD weekly special report based On 1.00 Lot Calculation:
·EVENT Thursday (June 1 at 10:00 GMT+1): Eurozone, Consumer Price Index (CPI). CPI is an indicator for inflation. In recent announcements, European Central Bank officials indicate that inflation still remains a problem and that there is a possibility that European Central Bank will continue with rising interest rates.
·EVENT Friday (June 2 at 13:30 GMT+1): US, Nonfarm payroll and Unemployment rate. New data from the labor market are due to be released this week. Market anticipates that employment will fall from 253k in April to 180k in May. Labor data are closely monitored by market participants in order to assess whether the Federal reserve will continue to increase its interest rate.
·TECHNICAL ANALYSIS: The 10- Day Relative Strength Index (RSI) shows the pair trades in oversell territory which could imply that the price of this currency pair may start an upward correction. However, the price could decline further.
EURUSD, May 29, 2023
Current Price: 1.0720
|
EUR/USD |
Weekly |
|
Trend direction |
|
|
1.1100 |
|
|
1.0930 |
|
|
1.0830 |
|
|
1.0620 |
|
|
1.0520 |
|
|
1.0400 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
3,800 |
2,100 |
1,100 |
-1,000 |
-2,000 |
-3,200 |
|
Profit or loss in €² |
3,545 |
1,959 |
1,026 |
-933 |
-1,866 |
-2,985 |
|
Profit or loss in £² |
3,079 |
1,701 |
891 |
-810 |
-1,620 |
-2,592 |
|
Profit or loss in C$² |
5,165 |
2,854 |
1,495 |
-1,359 |
-2,718 |
-4,349 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 10:04 (GMT+1) 29/5/2023
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