Currency Forecast, February 3rd 2014

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Currency Forecast, February 3rd 2014
Currency Forecast, February 3rd 2014

Currency Forecast, February 3rd 2014

We still see a very volatile market in the CEE countries (Poland, Turkey, Hungary). I am positioned and waiting for the calm down, which could start already this week.

USDJPY has seen a low of 101,90 – so maybe I get the chance to buy some at 101,50 as I would expect to see that currency pair around 104,00 soon again.

EURUSD and EURJPY are still in no where’s land so would not make sense to open a position there for now. Same with Gold, as it is still trading within the range of 1210,00-1270,00.

I expect that people from the government or central bank in Hungary and/or Turkey will publish some announcements today, which should help their currencies.

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 1,3495 , USDCHF 0,9055 , EURCHF 1,2215 , USDJPY 102,10 , EURJPY 137,75 , EURHUF 312,80 , USDCAD 1,1125 , EURTRY 3,0650, GOLD 1.246,00

EURUSD
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +280 pips

USDJPY
(Entry lvl): Buy 2 @ 101,50
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +90 pips

EURJPY
(Entry lvl):
Current position: Flat
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 @ 3,0093
Target:
Stop lvl:
Last trade:
P/L (ytd):

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

EURPLN
(Entry lvl):
Current position: Short 2 @ 4,2400
Target:
Stop lvl:
Last trade:
P/L (ytd):

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