Currency Forecast, February 17th 2014

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Currency Forecast, February 17th 2014

EURUSD and Gold made another move higher, though I think this was the high now and we will see both trading lower again soon.

As there will be no important data released today and in general there aren’t any political news, I expect a quiet start into the week. But for the rest of the week we could see some volatility, as the ZEW Index in Germany and some inflation data in the USA will be released over the next days.

EURTRY looks fine and we may see another test of the 2,9800 support, which should break soon. A move towards 2,9000 and even lower is very likely. (don’t forget, for every day you hold the EUTRY and also the EURHUF position, your entry rate gets better and better)

EURPLN – I still like to buy some EURPLN, should we see it trading at 4,1400. We are quite close at the target.

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 1,3715 , USDCHF 0,8905 , EURCHF 1,2215 , USDJPY 101,60 , EURJPY 139,35 , EURHUF 308,60 , USDCAD 1,0970 , EURTRY 2,9900, EURPLN 4,1460, GOLD 1.327,00

EURUSD
(Entry lvl):
Current position: Short 2 @ 1,3690
Target:
Stop lvl:
Last trade:
P/L (ytd): +280 pips

USDJPY
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +170 pips

EURJPY
(Entry lvl):
Current position: Short 2 @ 139,72
Target:
Stop lvl:
Last trade:
P/L (ytd): +375 Pips

USDCHF
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURCHF
(Entry lvl):
Current position: Long 3 @ 1,2265
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURHUF
(Entry lvl):
Current position: Short 3 @ 303,70
Target:
Stop lvl:
Last trade:
P/L (ytd):

USDCAD
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): -1146 pips

EURTRY
(Entry lvl):
Current position: Short 2 @ 3,0228
Target:
Stop lvl:
Last trade:
P/L (ytd): +321 pips (without carry P/L)

XAUUSD (Gold)
(Entry lvl):
Current position: Short 2k ounces @ 1300,00
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURPLN
(Entry lvl): Buy 2 @ 4,1400
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +1000 pips

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