EUR/USD

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

·EVENT: Friday, August 25 at 15:05 (GMT+1) - Fed Chair Jarome Powel speech at Jackson Hole Summit (Aug. 24 and runs through Saturday, Aug. 26). The speech is expected to attract interest across global markets and give some clarity on whether more interest-rate hikes will be needed to bring down inflation to the group's 2% target amid surprisingly strong economic growth. There are only three Fed policy meetings left in 2023 with the next one on September 19th. Financial markets also want to hear if there will be rate hikes in 2024. Traders saw just a 13.5% chance of a rate hike in September as of Monday, according to the CME FedWatch Tool.

·EVENT: NFP and Unemployment rate in the U.S., September 1, at 15:00 (GMT+1). Important labor market data could influence the US Federal Reserve (Fed) decision on whether to raise the policy rate again this year. The tight labor market’s persistent role in pushing up consumer prices. July data showed NFP rose 187,000, which was below expected 200,000, while the unemployment rate edged lower, to 3.5% from 3.6%.

·TECHNICAL ANALYSIS: RSI indicatior on the daily graph chart shows that this pair is in an oversold area, which could indicate current trend might change.

EURUSD, August 24, 2023
Current Price: 1.0855

Example of calculation base on weekly trend direction for 1.00 Lot1

1. 1.00 lot is equivalent of 100.000 units

2. Calculations for exchange rate used as of 12:20 (GMT+1) 24/8/2023

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