USD/CAD

Special Reports - 05/11/2021

05 November, 2021

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.

USD/CAD Daily uptrend opportunity based on 1.00 Lot Calculation:

EVENT: Friday, November 5 at 12:30 pm GMT - The U.S. Non-farm Payroll (NFP) report for October. The last month, the official report disappointed by adding only 194,000 jobs, while this month expectations stand at (around) 400,000. The unemployment rate is expected to further drop from 4.8% to 4.7%.
At the same time, the latest figures from the Canadian labor market will be published. Forecast is that the Canadian jobs market created only 50,000 in October.

USD/CAD, November 5, 2021
Current Price: 1.2464

USD/CAD	Daily
Trend Direction	UP
Resistance 3	1.2564
Resistance 2	1.2544
Resistance 1	1.2524
Support 1	1.2404
Support 2	1.2384
Support 3	1.2364

Example of calculation based on daily trend direction for 1.00 Lot*

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss Short in $	806	645	484	-484	-645	-806
Profit or loss Short in €**	696	557	417	-417	-557	-696
Profit or loss Short in £**	592	474	355	-355	-474	-592
Profit or loss Short in C$**	1,000	800	600	-600	-800	-1,000

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:30 am (GMT) 5/11/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client 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 Client Manager for 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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