EUR/USD Weekly Special Report based On 1.00 Lot Calculation:
● EVENT: FRIDAY, JULY 5 AT 13:30 GMT+1: US NFP & UNEMPLOYMENT. The United States will be reporting NFP and Unemployment data later this week. Should NFP come in lower than expected and/or Unemployment come in higher than expected, this could weaken the USD and strengthen the EURUSD pair.
● EVENT: SUNDAY, JULY 7 2024, FRENCH PARLIAMENTARY ELECTIONS ROUND 2: France is slated to hold their second round of parliamentary elections on Sunday July 7. The first round which was held on June 30 showed Marine LePen’s far-right National Rally (RN) party winning around 34% of the vote. However, it is projected that in the second round, Emmanuel Macron’s party could form a coalition with other parties and markets have reacted well to this news. Should this happen, it could further strengthen the EURUSD pair.
● EVENT: THURSDAY, JULY 11 AT 13:30 GMT+1: US CPI DATA FOR JUNE. The United States will be reporting CPI data. The US CPI has been trending lower, well below its 2022 peak of 9.1%. The most recent print showed CPI at 3.3%. Should the CPI come in lower than expected, the USD may be expected to weaken which could provide support for the EURUSD pair.
● EVENT: THURSDAY JULY 18 AT 13:15 GMT+1: EUROPEAN CENTRAL BANK INTEREST RATE DECISION: The European Central Bank (ECB) is set to announce its Interest Rate decision on Thursday July 18. At the previous meeting, the ECB made its first rate cut since March 2016, lowering the Interest Rate from 4.5% to 4.25%. Should the ECB give dovish guidance that could push the EURUSD pair higher.
EURUSD, JULY 2, 2024
Current Price: 1.072
|
EUR/USD |
Weekly |
|
Trend direction |
|
|
1.100 |
|
|
1.090 |
|
|
1.080 |
|
|
1.063 |
|
|
1.060 |
|
|
1.058 |
|
EUR/USD |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
2,850.00 |
1,850.00 |
850.00 |
-850.00 |
-1,150.00 |
-1,350.00 |
|
Profit or loss in €² |
2,659.59 |
1,726.40 |
793.21 |
-793.21 |
-1,073.17 |
-1,259.81 |
|
Profit or loss in £² |
2,256.98 |
1,465.06 |
673.13 |
-673.13 |
-910.71 |
-1,069.10 |
|
Profit or loss in C$² |
3,914.75 |
2,541.15 |
1,167.56 |
-1,167.56 |
-1,579.63 |
-1,854.35 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 10:20 (GMT+1) 02/07/2024
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