Currency Forecast, February 5th 2014

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Currency Forecast, February 5th 2014
Currency Forecast, February 5th 2014

Currency Forecast, February 5th 2014

A quiet day so far and I think this will last until Friday until the NFP-number will be released.

Until then there will be another 2 days of receiving the carry from the positions.

Only EURPLN could get close to the level, where I like to close the position (4,1900).

EURTRY traded also already down to 3,0198, but rebounded a bit to 3,0400 later then.

In three days the winter Olympic games in Russia will start, but I don’t expect any related market moves, as I don’t think that any terroristic attack or anything else will happen there, so the market should continue to calm down over the next few weeks.

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 1,3510 , USDCHF 0,9040 , EURCHF 1,2215 , USDJPY 101,20 , EURJPY 136,75 , EURHUF 309,10 , USDCAD 1,1075 , EURTRY 3,0375, GOLD 1.257,00

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

USDJPY
(Entry lvl):
Current position: Long 2 @ 101,50
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): Buy 2 @ 2,1900
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