Currency forecast, July 25th 2013

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Currency forecast, July 25th 2013
Currency forecast, July 25th 2013

Is there a Bubble on Wall Street

Market players took a bit profit of the last risk on move we have seen over the last few days, especially in the EURUSD and EURJPY. At least until the next NFP-day, I don’t see a big market move, so it is still better to be short on Binary options for now (with an expiry date pre that NFP-day).

If you also trade spot, then I would prefer to be positioned for a possible risk off move, as there is still some danger out of Greece, Spain, Portugal and Italy and a bit of fear about a beginning slowdown of the economy in China.

Things will be again clearer once we see the next NFP number out of the USA and especially when most traders come back from their vacation. I would expect that to be around the middle of August. Until that point, the main task is to watch the daily news, if there could be one which could move the market.

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 1,3185 , USDCHF 0,9385 , EURCHF 1,2375 , USDJPY 100,00 , EURJPY 131,80 , EURHUF 296,40 , USDCAD 1,0310 , GOLD 1.320,00

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