Currency Forecast, January 7th 2013

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Currency Forecast, January 7th 2013
Currency Forecast, January 7th 2013

Currency Forecast, January 7th 2013

The only thing I could do today was to sell some EURHUF and USDCAD, so currently I have two carry trades plus the USDJPY and USDCAD position.

Today the trade balance in the USA will be released, which could have some impact on the USDJPY.

EURCHF moved again a touch higher, but I think we will get another chance to get in there around 1,2250.

Same for the EURUSD – I see the EURUSD trading again above 1,3750 at least, before it will turn lower below the 1,3500 level and then 1,3300.

I like to buy some EURCHF below 1,2250

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: Short 2 @ 299,90
Target:
Stop lvl:
Last trade: Sold 2 @ 299,90
P/L (ytd):

USDCAD
(Entry lvl):
Current position: Short 2 @ 1,0670
Target:
Stop lvl:
Last trade: Sold 2 @ 1,0670
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