Currency Forecast, January 31st 2014

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Currency Forecast, January 31st 2014
Currency Forecast, January 31st 2014

Currency Forecast, January 31st 2014

EURTRY came back a bit which is a good sign – I am really confident that the Turkish Central Bank gets this under control. I like to buy back the 1 lot around 3,0000 to be able to sell it again, should we see another move higher, before the big mover lower appears.

Same for EURHUF – I see the same scenario there too. Though EURHUF I like to keep and not like to buy back even the 1 lot.

EURUSD finally broke the 1,3600 level and moved even below 1,3550 already. Next big support is at 1,3500. As a rebound above 1,3600 before can’t be ruled out (I heard there are some stops placed), I like to buy back the 2 here at 1,3545.

Instead of this position, I like to get involved into a new one with EURPLN. Poland is in a good condition and the move close to 4,2400 was way too much. It should trade around 4,1800 in my opinion.

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 1,3545 , USDCHF 0,9030 , EURCHF 1,2235 , USDJPY 102,55 , EURJPY 138,95 , EURHUF 311,80 , USDCAD 1,1185 , EURTRY 3,0750, GOLD 1.243,00

EURUSD
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade: Bought 2 @ 1,3545
P/L (ytd): +280 pips

USDJPY
(Entry lvl): Buy 2 @ 101,50
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 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):
Current position: Short 2 @ 4,2400
Target:
Stop lvl:
Last trade: Sold 2 @ 4,2400
P/L (ytd):

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