Currency Forecast, December 19th 2013

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Currency Forecast, December 19th 2013
Currency Forecast, December 19th 2013

Currency Forecast, December 19th 2013

Yesterday’s FED meeting brought only a tiny surprise as the tapering has started, though only in a tiny amount of 10 billion. So the FED gave the sign that it will start to take out some liquidity off the market.

Stocks were a bit surprising as they rose, though it should have been bad for the stock market. EURUSD, USDJPY, USDCHF and GOLD made the move which someone could expect to see after that decision (a stronger USD).

As this move is good for the EURUSD, USDCHF and EURCHF position, I leave the Gold, USDCAD and USDJPY position for now a bit against it. I expect to see a big correction in the stocks market until Friday, as this action should be really bad for the stock market and not positive. This move in the stocks market should lower EURJPY and also USDJPY plus should push the USDCAD lower too.

Good luck,

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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 1,3670 , USDCHF 0,8960 , EURCHF 1,2245 , USDJPY 104,10 , EURJPY 142,25 , EURHUF 298,80 , USDCAD 1,0720 , GOLD 1.205,00

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