Currency Forecast, December 12th 2013

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Currency Forecast, December 12th 2013
Currency Forecast, December 12th 2013

Currency Forecast, December 12th 2013

It seems more and more the year is over regarding trading. Everything is still trading within a tight range.

Today the retail sales data out of the USA will be released, which could have a small impact on the market, but I don’t expect really big moves out of it. Again I would say that it is the perfect time to trade binary options, where the rate has to stay within a range. The next bigger moves will be soon at the beginning of next year in my opinion.

The gold price helps a bit here, as it looks bid to be and is trading well above the 1250,00 level. Should it move towards the 1275,00 level, I will close the position and take profit there.

Also, the EURCHF held well above the 1,2200 level and is currently on its way towards the 1,2250 level again. EURCHF could be the big mover in 2014, where I expect a move towards the 1,3000 level and maybe even towards the 1,3500 level.

If you also trade stocks, I heard that many DAX contracts will run out next Friday at the level of 9.200. This means the closer the market gets to this level, the more money the banks will make. This means the DAX will probably decline a tiny bit today, but will then move higher close to the 9.200 level until next Friday.

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 1,3785 , USDCHF 0,8870 , EURCHF 1,2230 , USDJPY 102,80 , EURJPY 141,70 , EURHUF 303,10 , USDCAD 1,0580 , 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:
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:
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:
P/L (ytd): +500 pips

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

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