Currency forecast, July 24th 2013

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Currency forecast, July 24th 2013
Currency forecast, July 24th 2013

We still see the tone of a risk on move, as again there was no news out of Europe, Asia or the USA. I think it is just a matter of the timing not to miss the turnaround, as the crisis is still not over yet. There is no solution out yet about the problems in Europe with Greece, Portugal, Spain and Italy. Also we could easily see a beginning crisis in Asia, as the economy is slowing down there too.

If you trade currency options (and/or binary options), it is the best time to sell short dated options for now (you only have to be carefully that the expiry date is pre the NFP-number-day), as it seems the market will stay quiet over the next few days/week.

The only other thing to do for now is to watch the market for any new news out of Europe, Asia or the USA, but it looks like that there won’t be any in the next days.

I hope the market will get more volatile again around mid of august, though for options sellers it is quite a perfect market now.

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 1,3240 , USDCHF 0,9365 , EURCHF 1,2400 , USDJPY 100,05 , EURJPY 132,50 , EURHUF 296,75 , USDCAD 1,0300 , GOLD 1.342,00

EURUSD

(Entry lvl):

Current position: Short 2 @ 1,3090 (1@ 1,3050 and 1 @ 1,3130)

Target:

Stop lvl: 1,3250

Last trade: Sold 1 @ 1,3130

P/L (ytd): -110 pips

USDJPY

(Entry lvl):

Current position: Short 1 @ 99,65

Target:

Stop lvl: 101,50

Last trade:

P/L (ytd): +980 pips

EURJPY

(Entry lvl):

Current position: Short 1 @ 130,90

Target: Stop

lvl:

Last trade: Sold 1 @ 130,90

P/L (ytd): +230 pips

USDCHF

(Entry lvl):

Current position: Long 2 @ 0,9420

Target:

Stop lvl:

Last trade: Bought 2 @ 0,9420

P/L (ytd): +440 pips

EURCHF

(Entry lvl):

Current position:

flat Target:

Stop lvl:

Last trade:

P/L (ytd): +10 pips

EURHUF

(Entry lvl):

Current position:

flat Target:

Stop lvl:

Last trade:

P/L (ytd): +1560 pips

USDCAD

(Entry lvl):

Current position:

flat Target:

Stop lvl:

Last trade: P/L (ytd): +240 pips

XAUUSD (Gold)

(Entry lvl):

Current position: Short 2k onces @ 1316,00

Target:

Stop lvl:

Last trade: Sold 2k onces @ 1316,00

P/L (ytd): +86.000 USD