Currency forecast, June 24th

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Currency forecast, June 25th
Currency forecast, June 25th

Another day of USD strength? It looks more and more that the Fed will take out liquidity off the market, but is that really the case? To be honest, as I know the policy of the Fed for years, I know that there is nothing more important for the USA than rising stocks and a good economy. That is why I think it will need a longer time until the Fed will really end its easing policy. Maybe I am only one out of a few who thinks that – the time will let us know who was right and who not.

Besides that, what else is going on? Greece has drifted in the next crisis, as there is still no solution about the TV-station which has been closed by the Greek government.

Both stories pushed the EURUSD lower and a test of 1,3000 is now very likely. As there could be a bigger move with only small news out, I would not touch the EURUSD and would play it again with the USDJPY. Should we test the 1,3000 in the EURUSD, we would reach the entry level of 99,00 in the USDJPY and any statement from the Fed about not to end the easing policy would move the USDJPY below 97,00 on one day.
This is beside the EURHUF position the only I would like to have for now.
If you like to be involved in more currency pairs, I would also buy small positions in the EURCHF here around 1,2270 with a target around 1,2320-1,2330.

Just to mention: Also in Cyprus we could see new troubles soon. There were so far only tiny statements about it, but it seems they are not happy with the solution they got from the EU, IMF, etc. They like to amend a few things and what is even more important it seems they need more money too. Cyprus is a very small country, but it could hurt the EUR too, at least a bit.

Good luck.

Current trades, positions and levels:

Just for info: The P/L (because there were some questions how this gets calculated), 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 – so to say it the easy way – it is always calculated with the position size of 1. The possible position could go up to 3, if the system has a strong view (that is the maximum size by now)

EURUSD
(Entry lvl):
Current position: flat
Target: 1,3350
Stop lvl:
Last trade: Sold 1 @ 1,3090
P/L (ytd): -110 pips

USDJPY
(Entry lvl): Sell 1 @ 99,00
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +780 pips

EURJPY
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +230 pips

USDCHF
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:S 2 @ 0,9180
P/L (ytd): -240 pips

EURCHF
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURHUF
(Entry lvl):
Current position: Short 2 @ 299,90
Target: 289,00
Stop lvl: 305,50
Last trade: Sold 2 @ 297,00
P/L (ytd): +580 pips

USDCAD
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd):