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 - 12/09/2023

12 September, 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 (WEDNESDAY, SEPTEMBER 13 AT 13:30 GMT+1): U.S. INFLATION (AUGUST). The U.S. Inflation is now down from 9.1% in summer 2022 to July’s 3.2%. Core Inflation, on the other hand, fell to 4.7% in July, from previous 4.8%.
  • EVENT (WEDNESDAY, SEPTEMBER 20 AT 19:00 GMT+1): U.S. FEDERAL RESERVE INTEREST RATE DECISION. Federal Reserve raised interest rates to 5.50% last time (Its highest in 22 years). Fed Chair Powell said that they will go meeting by meeting depending on data to see if more hikes will be needed. He kept the door open, though, for a stop in September. According to the CMEGROUP.COM*, the markets assign 93.0%** of probability to an outcome that will see no changes in interest rates in September.
  • STRONG SUPPORT AT $1900: Gold has respected the support of $1900 since the beginning of 2023, testing levels below $1900 only three times this year.

*Please note that past performance does not guarantee future results.

GOLD, September 12, 2023
Current Price:1920

GOLD

Weekly

Trend direction

UP

Resistance 3

2000

Resistance 2

1980

Resistance 1

1960

Support 1

1890

Support 2

1880

Support 3

1870

Example of calculation based on weekly trend direction for 1.00 Lot

Gold

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

8,000.00

6,000.00

4,000.00

-3,000.00

-4,000.00

-5,000.00

Profit or loss in €2

7,462.48

5,596.86

3,731.24

-2,798.43

-3,731.24

-4,664.05

Profit or loss in £2

6,407.33

4,805.50

3,203.66

-2,402.75

-3,203.66

-4,004.58

Profit or loss in C$2

10,861.64

8,146.23

5,430.82

-4,073.12

-5,430.82

-6,788.53

1. 1.00 lot is equivalent of 100 units
2. Calculations for exchange rate used as of 14:15 (GMT+1) 12/09/2023
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.

*https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html

**At time of writing and subject to frequent change due to market activity

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