Currency Forecast, January 16th 2014

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Currency Forecast, January 16th 2014
Currency Forecast, January 16th 2014

Currency Forecast, January 16th 2014

USDJPY traded close to the 105,00 level, but not high enough that I could sell some. I still like to sell USDJPY just above 105,00.

The rest of the market looks quite quiet for now and everyone is waiting for some news which could move the market a bit. Volatility continuous to be extremely low.

For now, all I like to do as mentioned above is to sell some USDJPY above 105,00 and should the EURJPY trade at 143,50, I like to sell some there then too.

The carry trades (EURTRY and EURHUF) are stuck for now which is good, as every day the exchange rate of the position is getting better, because of the difference of interest rates (I don’t calculate that profit into my balance for info)

Good luck,

**relatedartilce**

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 1,3620 , USDCHF 0,9080 , EURCHF 1,2375 , USDJPY 104,70 , EURJPY 142,65 , EURHUF 300,20 , USDCAD 1,0935 , EURTRY 2,9880, GOLD 1.243,00

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

USDJPY
(Entry lvl): Sell 2 @ 105,00
Current position: Flat
Target:
Stop lvl:
Last trade: Bought 1 @ 104,40
P/L (ytd): +90 pips

EURJPY
(Entry lvl): Sell 2 @ 143,50
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