EUR/USD
September 30, 2019
WEEKLY TREND: DOWN
- Technical Outlook
EUR/USD has remained on the downside, trading in a very convincing downtrend channel. The EUR/USD could happen to target this week's levels below the mark of 1.0900 if it continues to follow the pattern set up in recent days. To the downside, the EUR/USD could be expected to target Support 1 of 1.08845.
If, however, the EUR/USD manages to return above its Pivot point of 1.09468, the pair may target its weekly Resistance 1 of 1.10050.
|
Pivot Point: |
1.09468 |
|
Resistance 3: |
1.11255 |
|
Resistance 2: |
1.10747 |
|
Resistance 1: |
1.10050 |
|
Support 1: |
1.08845 |
|
Support 2: |
1.08337 |
|
Support 3: |
1.07640 |
Graph: (EUR/USD, Daily)
Example of calculation based on weekly direction for 1.00 Lot*
|
EUR/USD* |
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|
Pivot Points |
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|
Profit or loss in $ |
-1,787.00 |
-1,279.00 |
-582.00 |
623.00 |
1,131.00 |
1,828.00 |
|
Profit or loss in €*** |
-1,634.76 |
-1,170.03 |
-532.42 |
569.92 |
1,034.64 |
1,672.26 |
|
Profit or loss in £*** |
-1,452.80 |
-1,039.80 |
-473.16 |
506.49 |
919.48 |
1,486.13 |
* 1.00 lot is equivalent of 100 000 units
*** Calculations for exchange rate used as of 10:04 am (GMT +1) 30/09/2019
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
**** Please, consider closing your position in profit, even if it is lower than suggested one
***** Trailing stop technique can protect profit – Ask your Senior Account Manager for more details
