Currency forecast, June 28th

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Currency forecast, June 28th
Currency forecast, June 28th

Risk on is the direction at the moment, because traders think that the FED could keep its easing policy for a longer than expected period and comments from the FED that there is no way of rising short term interest rates in the near future, stock markets around the world could increase, especially the Nikkei which also increased because of a weaker YEN.

The YEN forecast from yesterday was exactly right and it followed the stock market from the day before. I still see some potential for the USDJPY, but still would like to sell at 99,00, as I would expect some profit takers in the stock market before the real summer begins. Traders will then re-open positions when they are back from vacation in September.

USDCAD is a bit disappointing so far, as it should be already below 1,0400 – as good US-numbers came out again and rising stocks should help too. I assume to see that move in the next 48 hours.

EURCHF is on its way towards the expected 1,2400 level, where I would like to take profit. For EURCHF, it has been a nice move in the last 24 hours.

EURHUF also looks fine, as it is currently trading around 295,00. I will move the stop lower again to 297,00 and change it to a stop profit. 290 points profit is not bad at all, and who knows, maybe we will see the next move lower already in the next 24 hours.

I would like to trade again a new “currency pair”, which is more of a commodity of course – GOLD. The gold price fell sharply because the FED said they would like to decrease its balance sheet, but I think it is not a bad level to get long here around $1.200,00, as I would expect to see the gold price again around 1.300,00 soon.

Good luck.

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

EURUSD
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
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:
P/L (ytd): -240 pips

EURCHF
(Entry lvl):
Current position: long 2 @ 1,2270
Target:
Stop lvl: 1,2090
Last trade:
P/L (ytd):

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

USDCAD
(Entry lvl):
Current position: Short 1 @ 1,0475
Target:
Stop lvl: 1,0610
Last trade:
P/L (ytd):

XAUUSD (Gold)
(Entry lvl):
Current position: Long 2000 onces @ 1202,00
Target:
Stop lvl: 1145,00
Last trade: Bought 2000 onces @ 1202,00
P/L (ytd):