EUR/USD Weekly Special Report based on 1.00 Lot Calculation:
- THURSDAY, AUGUST 29, AT 13:30 GMT+1: US GROSS DOMESTIC PRODUCT (GDP) (Q2) (second estimate). The US Economy grew by 2.8% in Q2 of 2024 (+2.8% expected, +2.8% prior). If the trend continues on, this could potentially decrease US dollar.
- EVENT: FRIDAY AUGUST 30, AT 10:00 GMT+1: EUROZONE CPI (AUGUST): The Eurozone is slated to report its CPI figure for the month of August. The forecasted CPI is 2.2%. Should CPI come in above this number the European Central Bank will most likely need to keep interest rates unchanged which could provide support for the EURUSD pair and strengthen it.
- WEDNESDAY, SEPTEMBER 18, AT 19:00 GMT+1: US FEDERAL RESERVE INTEREST RATE DECISION. Federal Reserve Bank will meet on September 18, to set the Fed Funds rate target. On Friday, Powell made clear to investors that interest rate cuts are coming in September. Fed could cut interest rates by 25 basis points in September, another 50 basis points in November and 25 basis points in December 2024. All in all, that could slash interest rates from the current 5.5% (the highest in over 20 years) to 4.50%. Falling interest rates in the US could put negative pressure on the US dollar.
EURUSD, AUGUST 26, 2024
Current Price: 1.1170
|
EUR/USD |
Weekly |
|
Trend direction |
|
|
1.1600 |
|
|
1.1420 |
|
|
1.1265 |
|
|
1.1075 |
|
|
1.1030 |
|
|
1.1000 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
4,300.00 |
2,500.00 |
950.00 |
-950.00 |
-1,400.00 |
-1,700.00 |
|
Profit or loss in €² |
3,846.39 |
2,236.28 |
849.78 |
-849.78 |
-1,252.31 |
-1,520.67 |
|
Profit or loss in £² |
3,259.12 |
1,894.84 |
720.04 |
-720.04 |
-1,061.11 |
-1,288.49 |
|
Profit or loss in C$² |
5,808.03 |
3,376.76 |
1,283.17 |
-1,283.17 |
-1,890.99 |
-2,296.20 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 11:30 (GMT+1) 26/08/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.