Currency Forecast, January 3rd 2013

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Currency Forecast, January 3rd 2013
Currency Forecast, January 3rd 2013

Currency Forecast, January 3rd 2013

The correction in stock markets plus therefore in the JPY was quite nice and I already like to close the EURJPY position here at 142,30. The USDJPY position I like to run a bit further as a rebound of the EURUSD seems possible.

EURTRY had a move higher but came back very quickly, so looks alright and don’t forget; to be short EURTRY is also a great carry trade as you can earn interest every day.

Those are the currency pairs, where I like to wait a bit longer for a better level:

I like to buy some EURCHF below 1,2250
I like sell some USDCAD above 1,0670
I like to sell some EURHUF just below 300,00
I like to resell some EURJPY above 143,30

Good luck,

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.

**relatedarticle**

Current spot: EURUSD 1,3650 , USDCHF 0,9005 , EURCHF 1,2290 , USDJPY 104,30 , EURJPY 142,30 , EURHUF 298,50 , USDCAD 1,0635 , EURTRY 2,9610, GOLD 1.232,00

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

USDJPY
(Entry lvl):
Current position: Short 1 @ 105,30
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURJPY
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade: Bought 1 @ 142,30
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: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd):

USDCAD
(Entry lvl):
Current position: Flat
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