USD/CAD weekly special report based On 1.00 Lot Calculation:
· EVENT (Tuesday, February 21 at 13:30 GMT): Canadian CPI and Core Retail sales. Last Canadian CPI showed that Core Canadian inflation is picking down it was -0,3% while Canadian Core retail sales it is expected to be -0.5% for the January.
·EVENT (Wednesday, March 8, 15:00 GMT): Bank of Canada interest rate decision. On January 25, 2023, BAC increased its interest rate to 4,50%. According to the following statement, the Bank of Canada for the time being will not continue to raise its interest rate. That will be the first case that G7 state is on path to reduce its restrictive monetary policy.
· TECHICAL ANALYSYS: Moving Average Convergence Divergence (MACD) indicator on a daily graph implies that USDCAD is in oversold territory, which could potentially lead to an upward recovery.
USDCAD, February 15, 2023
Current Price:1.3378
USD/CAD |
Weekly |
Trend direction |
|
1.3855 |
|
1.3655 |
|
1.3555 |
|
1.3250 |
|
1.3200 |
|
1.3000 |
Example of calculation base on weekly trend direction for 1.00 Lot1
Pivot Points |
||||||
Profit or loss in $ |
3,567 |
2,070 |
1,322 |
-961 |
-1,335 |
-2,832 |
Profit or loss in €² |
3,339 |
1,938 |
1,237 |
-900 |
-1,250 |
-2,651 |
Profit or loss in £² |
2,962 |
1,719 |
1,098 |
-798 |
-1,109 |
-2,352 |
Profit or loss in C$² |
4,766 |
2,766 |
1,766 |
-1,284 |
-1,784 |
-3,784 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 09:39 (GMT) 15/2/2023
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