Currency Forecast, March 11th 2014

0
230
Currency Forecast, March 11th 2014
Currency Forecast, March 11th 2014

Currency Forecast, March 11th 2014

We have seen a bit of a risk off move again when I look at the Emerging Markets with the EURTRY and EURHUF trading again a bit higher.

EURUSD and EURJPY moved higher because of Draghi’s comments last week, which doesn’t make really sense, because Europe needs a weaker Euro for its exports – especially France.

I sold again the 1 EURTRY @ 3,0500 and I am waiting now to see a big move lower, as the elections in Turkey are very close.

I also sold another EURJPY here @ 143,15, as I think EURJPY should move a lot lower together with EURUSD.

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 1,3855 , USDCHF 0,8790 , EURCHF 1,2180 , USDJPY 103,30 , EURJPY 143,15 , EURHUF 312,75 , USDCAD 1,1130 , EURTRY 3,0720, EURPLN 4,2140, GOLD 1.346,00

EURUSD
(Entry lvl):
Current position: Short 2 @ 1,3690
Target:
Stop lvl:
Last trade:
P/L (ytd): +280 pips

USDJPY
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +170 pips

EURJPY
(Entry lvl):
Current position: Short 3 @ 140,86
Target:
Stop lvl:
Last trade: Sold 1 @ 143,15
P/L (ytd): +375 Pips

USDCHF
(Entry lvl):
Current position: Long 2 @ 0,8805
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURCHF
(Entry lvl):
Current position: Long 3 @ 1,2265
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURHUF
(Entry lvl):
Current position: Short 3 @ 303,70
Target:
Stop lvl:
Last trade:
P/L (ytd):

USDCAD
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): -1146 pips

EURTRY
(Entry lvl):
Current position: Short 3 @ 3,0418
Target:
Stop lvl:
Last trade: Sold 1 @ 3,0500
P/L (ytd): +767 pips (without carry P/L)

XAUUSD (Gold)
(Entry lvl):
Current position: Short 2k ounces @ 1300,00
Target:
Stop lvl:
Last trade:
P/L (ytd):

EURPLN
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +1000 pips

To contact the reporter of this story: Marco Roemer at marco@forexminute.com