CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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. 75% 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 - 11/06/2024

11 June, 2024

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 (US CPI INFLATION (MAY) - WEDNESDAY 12 JUNE, 2024 - 13:30 GMT+1): The United States is expected to release its CPI inflation figures for the month of May. Inflation has been steadily falling since its peak of 9.1% in July 2022 to 3.4% as of the latest reading. At the last reading CPI on a Year-on-Year basis met expectations while on a Month-on-Month basis it came in lower than expected (0.3% vs 0.4%). If the May print comes in lower than expected (3.4%) this could weaken the dollar and push the EURUSD pair higher.

● EVENT (US FEDERAL RESERVE INTEREST RATE DECISION -WEDNESDAY 12 JUNE, 2024 - 19:00 GMT+1): On June 12, 2024, the Federal Reserve will announce its decision on interest rates. Despite a 99.1% chance of no change, the Fed did not discount interest rate cuts in 2024 particularly in light of recent weaker economic labour market and inflation data. Lower interest rates in the US typically devalue the US Dollar, suggesting a potential push in the EURUSD price.

● EVENT (EUR CPI (MAY) - JUNE 18, 2024 09:00 GMT+1): The Eurozone is anticipated to release its CPI inflation data for the month of May on June 18th 2024. The previous reading came in at 2.6% (higher than expected). If the Eurozone CPI comes in higher than expected this could potentially push the EURUSD pair higher.

EURUSD, JUNE 11, 2024
Current Price: 1.076

EUR/USD

Weekly

Trend direction

UP

Resistance 3

1.100

Resistance 2

1.090

Resistance 1

1.084

Support 1

1.069

Support 2

1.067

Support 3

1.065

EUR/USD

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

2,400.00

1,400.00

800.00

-700.00

-900.00

-1,100.00

Profit or loss in €²

2,230.23

1,300.97

743.41

-650.49

-836.34

-1,022.19

Profit or loss in £²

1,886.17

1,100.27

628.72

-550.13

-707.31

-864.49

Profit or loss in C$²

3,303.41

1,926.99

1,101.14

-963.49

-1,238.78

-1,514.06

1. 1.00 lot is equivalent of 100.000 units

2. Calculations for exchange rate used as of 09:20 (GMT+1) 11/06/2024

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 Managerfor 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 Canadian Investment Regulatory Organization (CIRO) 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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