Currency Forecast, December 5th 2013

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Currency Forecast, December 5th 2013
Currency Forecast, December 5th 2013

Currency Forecast, December 5th 2013

The ECB rate decision and the press conference afterwards did not bring big news at all. A more dovish Draghi was expected from the market view and so the EURUSD and EURJPY moved a bit higher again, and we are at those levels which we saw last week already.

Today the NFP-number is the next chance to see a bigger move as this number could lead to opinions about the easing policy of the FED. A number of 180k is expected for info. Personally I think that the number will be slightly better, but this is always difficult to guess.
Until the number will be released the market will trade in a very narrow range.

EURHUF moved back below the 302,00 level which is fine.

Also Gold holds the level around 1230,00 quite good, so it looks like we have reached the highs and lows of everything currently and a bigger correction should start soon again.
It was already a big move in USDJPY, EURJPY, GOLD, USDCHF, EURUSD.

Just for info, at the end of the year, I will close all the positions to see the yearly profit or loss and will re-open then then the position at the beginning of next year.

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 1,3655 , USDCHF 0,8965 , EURCHF 1,2245 , USDJPY 102,15 , EURJPY 139,50 , EURHUF 301,95 , USDCAD 1,0655 , GOLD 1.230,00

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: 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