Currency Forecast, August 30th 2013

0
147
Currency Forecast, August 30th 2013
Currency Forecast, August 30th 2013

Currency Forecast, August 30th 2013

As expected EURUSD moved lower again and the USDCHF higher. It’s on the right way and I expect a further move soon.

EURCHF – I will take profit, should we trade above 1,2350, as I am long on the USDCHF anyway.

Regarding the YEN, I like to stay out there for the moment, as current levels are more or less in the middle of the ranges. I will wait until next week, to get a better overview after the weekend.

EURHUF is back below the 300,00 level again and should further decline towards 295,00.

Just for info: EURPLN is still very high in comparison to the EURTRY and EURHUF for example (4,2760) and I would expect to see it much lower within the next 24 hours. (though same here, I will not open new positions pre the weekend)

Today there will be some important economy data released out of the USA (consumer spending, PCE, Chicago PMI). I expect good and stronger than expected numbers, which should give the USD a new boost.

Also gold is on its way lower and already trading below the 1400,00 level. A level below 1390,00 is very likely to see soon, as with every good number out of the USA, the gold price should decline. Also the USA, England and France have postponed the attack on Syria, so it is not that sure anymore if there will be an attack at all, which would also lower the gold price.

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 1,3230 , USDCHF 0,9310 , EURCHF 1,2320 , USDJPY 98,10 , EURJPY 129,75 , EURHUF 299,80 , USDCAD 1,0530 , GOLD 1.398,00

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:

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