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.
September 30, 2019
WEEKLY TREND: DOWN
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* |
||||||
|
Pivot Points |
||||||
|
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