Currency Forecast, January 15th 2014

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Currency Forecast, January 15th 2014
Currency Forecast, January 15th 2014

Currency Forecast, January 15th 2014

I was off the last two days, so I kept everything regarding the position unchanged.

EURJPY and USDJPY recovered a bit and I took profit now in the USDJPY, and only like to keep the EURJPY position. I would like to use maybe another opportunity to sell some USDJPY again, if it should trade above 105,00.

USDCAD should start with the turnaround soon – should it move towards the 1,1100 level, I will stop the position.

EURHUF and EURTRY are still in the range and look fine so far (every day you keep the position, you will have a better average exchange rate of your position due to the higher interest rates).

Today the PPI in the USA will be released which could give some more information about the FED’s policy in the near term future. Should this number be also a bad one (like the NFP number last Friday), then we could see a bigger weakness of the USD again.

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 1,3635 , USDCHF 0,9060 , EURCHF 1,2355 , USDJPY 104,40 , EURJPY 142,35 , EURHUF 299,00 , USDCAD 1,0965 , EURTRY 2,9880, GOLD 1.241,00

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

USDJPY
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade: Bought 1 @ 104,40
P/L (ytd): +90 pips

EURJPY
(Entry lvl):
Current position: Short 1 @ 142,85
Target:
Stop lvl:
Last trade:
P/L (ytd): +255 Pips

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

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

EURHUF
(Entry lvl):
Current position: Short 2 @ 299,90
Target:
Stop lvl:
Last trade:
P/L (ytd):

USDCAD
(Entry lvl):
Current position: Short 3 @ 1,0718
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURTRY
(Entry lvl):
Current position: Short 2 @ 2,9580
Target:
Stop lvl:
Last trade:
P/L (ytd):

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

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