Currency Forecast, January 17th 2014

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Currency Forecast, January 17th 2014
Currency Forecast, January 17th 2014

Currency Forecast, January 17th 2014

Another more or less quiet day and end of the week.

EURUSD moved a touch lower towards 1,3570 but is still within its range.
EURJPY was the big mover down to 141,65 and I took profit there.

EURTRY and USDCAD moved a touch higher, but especially EURTRY I see as a long-term investment. If you calculate the forward of EURTRY for a year, you gain 10 big figures only from this forward. (higher interest rate in Turkey)

USDJPY I still like to sell some if it should trade at 105,00.

The rest is currently trading within a tight range (EURUSD, EURCHF), so I like to follow the markets for the next few days to make then some new decisions.

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 1,3575 , USDCHF 0,9080 , EURCHF 1,2335 , USDJPY 104,30 , EURJPY 141,65 , EURHUF 300,60 , USDCAD 1,0965 , EURTRY 3,0120, GOLD 1.245,00

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:
P/L (ytd): +90 pips

EURJPY
(Entry lvl):
Current position: Short 1 @ 142,85
Target:
Stop lvl:
Last trade: Bought 1 @ 141,65
P/L (ytd): +375 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: Deepak Tiwari @deepak@forexminute.com