Currency Forecast, December 11th 2013

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Currency Forecast, December 11th 2013
Currency Forecast, December 11th 2013

Currency Forecast, December 11th 2013

A quiet day again so far and we will see more of those until start of next year, as more and more traders are closing their positions as they are done for the year.

USDCAD tries currently to break the 1,0600 support which looks fine. Also, the USDJPY came back a bit due to profit taking of some traders.

The rest is more or less stuck for now and as there will be no important data released today, I expect also the rest of the day to be quiet and currencies should trade in a tight range. This would be now the perfect time to trade binary options, where you bet that the rate will not touch the barriers of a range. Even volatility is low, so the payout is not that much; the chances therefore are very high that your option will be in the money at the expiry time.

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 1,3760 , USDCHF 0,8880 , EURCHF 1,2220 , USDJPY 102,50 , EURJPY 141,10 , EURHUF 301,80 , USDCAD 1,0605 , GOLD 1.254,00

EURUSD
(Entry lvl):
Current position: Short 3 @ 1,3150
Target:
Stop lvl:
Last trade:
P/L (ytd): -110 pips

USDJPY
(Entry lvl):
Current position: Short 3 @ 100,18
Target:
Stop lvl:
Last trade:
P/L (ytd): +2240 pips

EURJPY
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade: Bought 3 @ 140,10
P/L (ytd): -782 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 @ 1,2265
Target:
Stop lvl:
Last trade: Bought 2 @ 1,2265
P/L (ytd): +741 pips

EURHUF
(Entry lvl):
Current position: Short 3 @ 300,00
Target:
Stop lvl:
Last trade:
P/L (ytd): +2540 pips

USDCAD
(Entry lvl):
Current position: Short 2 @ 1,0620
Target:
Stop lvl:
Last trade: Sold 2 @ 1,0620
P/L (ytd): +500 pips

XAUUSD (Gold)
(Entry lvl):
Current position: long 2k @ 1.233,50
Target:
Stop lvl:
Last trade: Bought 1k @ 1.222,00
P/L (ytd): +258.000 USD

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