Currency forecast, July 31st 2013

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Currency forecast, July 31st 2013
Currency forecast, July 31st 2013

As expected the market has not moved at all yesterday and also today it looks like we see the next quiet day. Market will focus on Friday with the NFP-number out, though also Thursday with the ECB could move the market, though it is more than unlikely.

If you are short on binary options, I would wait until today’s afternoon and then close a part of your positions, then wait until tomorrow afternoon and then close the rest before the NFP-number has been released.

If you like to have a position over Friday’s number, I would say it is the better way to be short on the EURUSD, EURJPY and USDJPY, as I would expect a quite good number.

A good NFP-number would mean that the FED will end its easing policy earlier than expected, which would lead to a stronger USD and a loss in the stock-markets.

Today we will see again a day with tight ranges, as there are and were no important news over the last 24 hours around the world.

Regarding positions, we reached the 299,90 level in EURHUF, so again we have a position in that currency pair and will wait again for a move lower there.

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 1,3260 , USDCHF 0,9290 , EURCHF 1,2320 , USDJPY 97,90 , EURJPY 129,85 , EURHUF 299,95 , USDCAD 1,0320 , GOLD 1.331,00

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:

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):

Current position: Short 2 @ 299,90

Target:

Stop lvl:

Last trade: Sold 2 @ 299,90

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