Currency Forecast, December 20th 2013

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Currency Forecast, December 20th 2013
Currency Forecast, December 20th 2013

Currency Forecast, December 20th 2013

Again a more or less quiet day, though it looks like we see a downward trend in the EURUSD, which needs to break the 1,3500 level to confirm it.

I think next year we will see a big move in the EURUSD which could last until below 1,2000. The other big mover will be the USDCHF which could trade up to 1,1000 and even higher, but I will get into this long-term strategic position at the beginning of next year then.

For info, next week I will be off for Xmas, so the next forecast will be on December 30th. Until then the market should not be too volatile anymore. I wish everyone a merry Xmas.

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 1,3635 , USDCHF 0,8990 , EURCHF 1,2260 , USDJPY 104,45 , EURJPY 142,25 , EURHUF 298,80 , USDCAD 1,0670 , GOLD 1.195,00

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