Currency Forecast, August 21st 2013

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Currency Forecast, August 21st 2013
Currency Forecast, August 21st 2013

Currency Forecast, August 21st 2013

We have seen a move from stop hunters, but even with them, the EURUSD could not break out of its range, which has the top side level at 1,3500. So I am not worried at all about it and I am sure that we will see a lower EURUSD exchange rate soon.

USDJPY reached the 97,00 level, so I bought 2, which I would like to keep until we see spot above 98,00 or higher.

EURUSD, USDCHF and Gold need to move in the right direction but I think we will see this move quite soon.

EURHUF is more or less unchanged, though of course that’s great, as every day you are short EUR and long HUF makes you profit because of the higher interest rate in Hungary.

EURCHF made a low at 1,2286 , so I missed to buy it by 6 pips. That’s fine for now and I wait again, if we see that level. If not, its ok, as a higher EURCHF would mean a lower EURUSD and a higher USDCHF too, which wouldn’t be bad at all.

Today we have to wait for the FED-minutes, which the FED will release this evening. If there will be any news regarding its easing policy, I would more expect to see a stronger USD than a weaker USD.

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 1,3388 , USDCHF 0,9195 , EURCHF 1,2305 , USDJPY 97,50 , EURJPY 130,50 , EURHUF 300,10 , USDCAD 1,0435 , GOLD 1.364,00

EURUSD  

(Entry lvl):

Current position: Short 3 @ 1,3150

Target:

Stop lvl:

Last trade:

P/L (ytd): -110 pips

USDJPY

(Entry lvl):

Current position: long 2 @ 97,00

Target:

Stop lvl:

Last trade: Bought 2 @ 97,00

P/L (ytd): +1420 pips

EURJPY

(Entry lvl):

Current position: Flat

Target:

Stop lvl:

Last trade: Bought 1 @ 129,60

P/L (ytd): +515 pips

USDCHF  

(Entry lvl):

Current position: Long 3 @ 0,9366

Target:

Stop lvl:

Last trade:

P/L (ytd): +440 pips

EURCHF

(Entry lvl):  Buy 2 @ 1,2280

Current position: Flat

Target:

Stop lvl:

Last trade:

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: flat

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 Bomer at marco@forexminute.com