CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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USD/CAD

Special Reports - 17/12/2024

17 December, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

USD/CAD weekly special report based on 1 Lot Calculation:

EVENTS AND NEWS:

CANADA:

  • EVENT (WEDNESDAY, DECEMBER 11 AT 14:45 GMT): BANK OF CANADA CUT INTEREST RATE): Bank Of Canada cut its rates from 3.75% to 3.25% on December 11, 2024. This is their fifth rate cut this year.

  • NEWS (DECEMBER 16): CANADA ENTERS A DEEPER POLITICAL CRISIS, PRESSURING PRIME MINISTER JUSTIN TRUDEAU TO RESIGN. Deputy Prime Minister and Finance Minister Chrystia Freeland has resigned. She was once thought of as the future of the party but she's tied herself too closely to Trudeau, who has now evidently cut her loose in an attempt to save his political life.

USA:

  • WEDNESDAY, DECEMBER 18, AT 19:00 GMT: US FEDERAL RESERVE INTEREST RATE DECISION: The Fed is expected to cut interest rates, signaling a shift toward stimulating economic growth. The current rate is at 4.75%.

USD/CAD December 17, 2024
Current Price: 1.4280

USD/CAD

Weekly

Trend direction

UP

Resistance 3

1.4750

Resistance 2

1.4600

Resistance 1

1.4450

Support 1

1.4140

Support 2

1.4060

Support 3

1.4000

Example of calculation based on weekly trend direction for 1 Lot1

USD/CAD

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

3,289.82

2,239.88

1,189.93

-979.95

-1,539.92

-1,959.89

Profit or loss in €2

3,137.25

2,136.00

1,134.75

-934.50

-1,468.50

-1,869.00

Profit or loss in £2

2,593.41

1,765.73

938.04

-772.51

-1,213.94

-1,545.01

Profit or loss in C$2

4,700.00

3,200.00

1,700.00

-1,400.00

-2,200.00

-2,800.00

1. 1.00 lot is equivalent of 100,000 units

2. Calculations for exchange rate used as of 12:00 (GMT) 17/12/2024

Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account 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 Manager for more detail
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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

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Risk warning   Privacy policy
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. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital.

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