Currency forecast, July 30th 2013

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Currency forecast, July 30th 2013
Currency forecast, July 30th 2013

Currency forecast, July 30th 2013   As mentioned yesterday and as expected the currency pairs have not moved at all. Those who sold binary options yesterday, I would still keep the position and would close it on Thursday afternoon or Friday morning. I still would expect that the EURUSD moves closer to the 1,3200 level until Friday afternoon pre the NFP-numbers.

EURHUF traded close to the entry level, but looks like we still need to wait a few more hours. I don’t like to sell it too early.

Regarding any news from around the world, there is completely nothing important to mention. The market is currently only waiting for the NFP-number which will be released on Friday 2:30pm GMT. As I expect a quite good number, I will close the EURJPY position pre the number and will keep the short EURUSD and long USDCHF position. I personally think that the USA is in a much better condition than Europe is. (Only one government, which leads to quicker decisions for example and also the economic data out of the USA is much better than they are currently in Europe)

With a better than expected number, or at least with a good number, also the Gold price should decline as the fear of a sooner than expected end of the Fed’s easing policy would be in place again.

Good luck,

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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 1,3255 , USDCHF 0,9310 , EURCHF 1,2340 , USDJPY 98,35 , EURJPY 130,35 , EURHUF 298,85 , USDCAD 1,0285 , GOLD 1.326,00

EURUSD

(Entry lvl):

Current position: Short 3 @ 1,3150 (1@ 1,3050 and 1 @ 1,3130 and 1 @ 1,3270) Target:

Stop lvl:

Last trade: Sold 1 @ 1,3270

P/L (ytd): -110 pips

USDJPY

(Entry lvl):

Current position: flat

Target:

Stop lvl:

Last trade: Bought 1 USDJPY @ 97,95

P/L (ytd): +1150 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): Sell 2 @ 299,90

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