Currency Forecast, February 20th 2014

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Currency Forecast, February 20th 2014
Currency Forecast, February 20th 2014

Currency Forecast, February 20th 2014

News about Greece let move EURUSD, EURCHF and EURJPY move lower and this could be only the beginning. Greece needs to come with a new plan to cut the debt in order to get some new billions from the EU.

EURHUF and EURTRY are still a bit under pressure with those things going on in Ukraine, though it they are still trading on a comfortable level.
EURTRY I could sold the 1 @ 3,0500 (the high was 3,0525 overnight).

Also Gold moved a bit lower and a fair value of gold should be in my opinion around 1250,00.

I think to the end of this week, we will see another risk off move – so prepare to see a weaker EURUSD, EURJPY, and maybe also USDJPY.

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 1,3700 , USDCHF 0,8895 , EURCHF 1,2190 , USDJPY 101,75 , EURJPY 139,45 , EURHUF 313,60 , USDCAD 11070 , EURTRY 3,0350, EURPLN 4,1780, GOLD 1.315,00

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): Buy 1 @ 3,0000
Current position: Short 3 @ 3,0318
Target:
Stop lvl:
Last trade: Sold 1 @ 3,0500
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 at marco@forexminute.com