Currency Forecast, January 28th 2014

0
175
Currency Forecast, January 28th 2014
Currency Forecast, January 28th 2014

Currency Forecast, January 28th 2014

Today will be the emergency meeting in Turkey and at midnight local time they will discuss the current interest rate level. I guess whatever they will decide, the EURTRY and USDTRY will move lower, which will help my position, which is a carry trade anyway – I would only close it, should we see a level of 2,70 or even lower.

EURUSD is still stuck within a tight range, but looks offered to me. I also heard that more and more stops have been placed on the downside – so I would say it is just a matter of time until we take them out.

EURHUF also came back a bit and is currently trading again around the 304,00 level.

USDJPY and EURJPY are more or less nowhere currently and I like to wait for a clear picture and better entry levels to get involved there again. Same with Gold – a level of close to 1100 would be a nice one to get long gold maybe.

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 1,3660 , USDCHF 0,8985 , EURCHF 1,2270 , USDJPY 103,15 , EURJPY 140,90 , EURHUF 304,20 , USDCAD 1,1105 , EURTRY 3,0850, GOLD 1.254,00

EURUSD
(Entry lvl):
Current position: Short 2 @ 1,3685
Target:
Stop lvl:
Last trade:
P/L (ytd):

USDJPY
(Entry lvl):
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 2 @ 1,2280
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: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): -1146 pips

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