Currency Forecast, August 29th 2013

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Currency Forecast, August 29th 2013
Currency Forecast, August 29th 2013

Currency Forecast, August 29th 2013

I expect the EURUSD to trade lower again over the next 48 hours, which is more a USD driven move – so the USDJPY should move more than the EURJPY.

USDCAD should be already lower, especially when I compare it to the AUD, so I see that currency pair around 1,0460 very soon.

EURHUF also came back and is trading around 300,60 currently which is fine and I would see the next move lower soon there too.

Today important numbers will be released out of the USA, especially the CPI. I expect a higher than expected number, which should give the USD another boost, as people will fear more that the FED could stop its easing policy sooner than expected.

Good luck,

**relatedarticle**

Current trades, positions and levels:

For info how the model works: The P/L is always calculated with the size of 1. So if the position is 1 and it makes a profit of 100 pips, the P/L would be +100 pips. If the position is 2 and it makes a profit of 100 pips, the P/L would be +200 pips of course – it is always calculated with the position size of 1. The position could go up to 3, in case the system has a strong view.

Current spot: EURUSD 1,3265 , USDCHF 0,9275 , EURCHF 1,2300 , USDJPY 98,10 , EURJPY 130,10 , EURHUF 300,70 , USDCAD 1,0500 , GOLD 1.409,00

EURUSD

(Entry lvl):

Current position: Short 3 @ 1,3150

Target:

Stop lvl:

Last trade:

P/L (ytd): -110 pips

USDJPY

(Entry lvl):

Current position: flat

Target:

Stop lvl:

Last trade:

P/L (ytd): +1810 pips

EURJPY

(Entry lvl):

Current position: flat

Target:

Stop lvl:

Last trade:

P/L (ytd): +640 pips

USDCHF

(Entry lvl):

Current position: Long 3 @ 0,9366

Target:

Stop lvl:

Last trade:

P/L (ytd): +440 pips

EURCHF

(Entry lvl):

Current position: Long 2 @ 1,2280

Target:

Stop lvl:

Last trade: Bought 2 @ 1,2280

P/L (ytd): +130 pips

EURHUF  

(Entry lvl):

Current position: Short 2 @ 299,90

Target:

Stop lvl:

Last trade:

P/L (ytd): +1560 pips

USDCAD  

(Entry lvl):

Current position: Short 2 @ 1,0520

Target:

Stop lvl:

Last trade:

P/L (ytd): +240 pips

XAUUSD (Gold)  

(Entry lvl):

Current position: short 3k ounces @ 1343,00

Target:

Stop lvl:

Last trade:

P/L (ytd): +118.000 USD

To contact the reporter of this story: Marco Roemer at marco@forexminute.com