EUR/USD Weekly Special Report based on 1.00 Lot Calculation:
- FRIDAY, SEPTEMBER 6 AT 13:30 GMT+1: US NONFARM PAYROLLS AND UNEMPLOYMENT RATE (AUGUST). The US labor market has seen some weakness over the past few months as the unemployment rate managed to rise to its highest since late 2021 (4.3%). This is creating a headache for the US Federal Reserve ahead of the September meeting and next week’s data could give better clues whether the Fed could be more aggressive in cutting interest rates in the next few months. Another month of negative employment data in the US could keep the US dollar under negative pressure.
- WEDNSDAY SEPTEMBER 11, AT 13:30 GMT+1: US INFLATION (AUGUST): The US is slated to report its CPI figure for the month of August. The top-line CPI for July came in at 2.9%. Should CPI come in below this number the FED will most likely need to cut interest rates 50 basis points which could provide support for the EURUSD pair and strengthen it.
- THURSDAY SEPTEMBER 12, AT 13:15 GMT+1: EUROPEAN CENTRAL BANK MEETING. The European Central Bank will meet to discuss interest rates. Rates are currently at 4.25% after a rate cut of 25 basis points in June.
- WEDNESDAY, SEPTEMBER 18, AT 19:00 GMT+1: US FEDERAL RESERVE INTEREST RATE DECISION. Federal Reserve Bank will meet on September 18, to set the Fed Funds rate target. On Friday, Powell made clear to investors that interest rate cuts are coming in September. The Fed could cut interest rates by 25 basis points in September, another 50 basis points in November and 25 basis points in December 2024. All in all, that could slash interest rates from the current 5.5% (the highest in over 20 years) to 4.50%. Falling interest rates in the US could put negative pressure on the US dollar.
EURUSD, AUGUST 30, 2024
Current Price: 1.1080
|
EUR/USD |
Weekly |
|
Trend direction |
|
|
1.1600 |
|
|
1.1420 |
|
|
1.1200 |
|
|
1.0960 |
|
|
1.0930 |
|
|
1.0900 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
5,200.00 |
3,400.00 |
1,200.00 |
-1,200.00 |
-1,500.00 |
-1,800.00 |
|
Profit or loss in €² |
4,691.80 |
3,067.72 |
1,082.72 |
-1,082.72 |
-1,353.41 |
-1,624.09 |
|
Profit or loss in £² |
3,943.61 |
2,578.51 |
910.06 |
-910.06 |
-1,137.58 |
-1,365.09 |
|
Profit or loss in C$² |
7,007.24 |
4,581.65 |
1,617.05 |
-1,617.05 |
-2,021.32 |
-2,425.58 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 11:30 (GMT+1) 30/08/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.