CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 76% 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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Special Reports - 13/03/2023

13 March, 2023

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.

Gold weekly special report based On 1.00 Lot Calculation:

  • EVENT: United States Consumer Price Index, CPI, for January (March 14th, 2023, 12:30 GMT)- The United States will post its January inflation data. Top-line CPI is expected to fall to 6.0% from 6.4% in January. Core CPI is expected to fall to 5.5%, Year-over-Year form 5.6%, Year-over-Year in January. (Forecast Source: Bloomberg)
  • EVENT: U.S. Federal Reserve Meeting and Interest Rate Decision (March 22nd, 2023, 19:00 GMT) - The Federal Open Market Committee will complete their 2-day meeting on March 22nd and may announce changes to the Federal Funds Rate target. The subsequent press conference by Chairman Jerome Powell will serve as a harbinger of how aggressive the U.S. central bank will be with respect to future rate hikes. Futures markets currently forecast a 6.3% chance of no change in interest rates and a 93.7% chance of a 25 basis point hike.
  • NEWS: The World Gold Council reported that central banks bought over 1000 tonnes of Gold in 2022, more than any other year in history.
  • ANALYSTS OPINION: Bank of America set $2,000 as its 2023 price target for Gold. Saxo Bank is forecasting $3,000 for Gold in 2023
  • GOLD PRICE ACTION: Gold reached $2070.06 in early 2022.

GOLD, March 13th, 2023
Current Price:1,880.00

Gold

Weekly

Trend direction

UP

Resistance 3

2,200.00

Resistance 2

2,070.00

Resistance 1

1,950.00

Support 1

1,820.00

Support 2

1,750.00

Support 3

1,680.00

Example of calculation base on weekly trend direction for 1.00 Lot1

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

32,000.00

19,000.00

7,000.00

-6,000.00

-13,000.00

-20,000.00

Profit or loss in €2

29,878.62

17,740.43

6,535.95

-5,602.24

-12,138.19

-18,674.14

Profit or loss in £2

26,446.28

15,702.48

5,785.12

-4,958.68

-10,743.80

-16,528.93

Profit or loss in C$2

43,977.60

26,111.70

9,620.10

-8,245.80

-17,865.90

-27,486.00

1. 1.00 lot is equivalent of 100 units

2. Calculations for exchange rate used as of 08:50 (GMT) 13/03/2023
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.
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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 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. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. 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. See full risk warning

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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 Investment Industry Regulatory Organization of Canada (IIROC) 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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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which 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 all your invested capital. Be Aware: You can lose all, but not more than the balance of your Trading Account. 76% of retail investor accounts lose money when trading CFDs with this provider. These products may not be suitable for all clients, therefore ensure, that you understand the risks and seek independent advice. Should you proceed with investment in CFDs on virtual currencies, please note, that the values are highly volatile and may result in a significant loss for a short period of time. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. 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. The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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