Currency Forecast, February 27th 2014

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Currency Forecast, February 27th 2014
Currency Forecast, February 27th 2014

Currency Forecast, February 27th 2014

The situation in the Ukraine becomes worse and worse. Now the Russian army is close to the boarder and is doing some practices there. There was also the rumor that in Krim they hissed the Russian flag. All those things are giving EURUSD, EURJPY and EURCHF some pressure to the downside, though EURCHF is limited of course, as the SNB would be there around 1,2000 in the worst case scenario.

EURTRY and EURHUF are stuck for now and I think especially EURTRY will trade soon again around the 3,0000 level. I still like to play the range with the size of 1 , so I like to buy back the 1 again, should it trade at 3,0000. (And don’t forget, every day you receive some carry on that position too)

Should EURJPY trade below 138,50, I like to set a stop profit at 139,25. Same for EURUSD – if it trades below 1,3580 , I like to set a stop profit at 1,3630.

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 1,3650 , USDCHF 0,8910 , EURCHF 1,2165 , USDJPY 102,15 , EURJPY 139,45 , EURHUF 310,80 , USDCAD 1,1135 , EURTRY 3,0620, EURPLN 4,1860, GOLD 1.326,00

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 3 @ 3,0378
Target:
Stop lvl:
Last trade:
P/L (ytd): +639 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