Currency Forecast, December 2nd 2013

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Currency Forecast, December 3rd 2013
Currency Forecast, December 3rd 2013

Currency Forecast, December 3rd 2013

EURJPY touched the 140,00 level overnight, but immediately turned around, so maybe this was the final move to hit some barriers, which were placed at 140,00.

I increased the gold position by another 1k ounces at 1222,– as I think the USA and also Europe will continue with the easing policy. No one likes to be the first to shock the markets.

Even we would see a continuing easing policy, the JPY should change its direction, as in my view the JPY is way too weak and the USD is not that strong in reality as it looks currently against the JPY and CAD.

This Thursday will be the next ECB meeting and everything is possible. I even would not exclude that Draghi would say, that negative interest rates are not ruled out.

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 1,3585 , USDCHF 0,9050 , EURCHF 1,2290 , USDJPY 102,50 , EURJPY 139,35 , EURHUF 303,00 , USDCAD 1,0660 , GOLD 1.222,00

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: Short 3 @ 134,90
Target:
Stop lvl:
Last trade:
P/L (ytd): +1078 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: Flat
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: 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