Currency Forecast, March 12th 2014

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Currency Forecast, March 12th 2014
Currency Forecast, March 12th 2014

Currency Forecast, March 12th 2014

The situation in the Ukraine (Krim) gets more and more to an end maybe, though the market became more nervous again too, as it is not clear how the EU and USA would react, should the Krim go to Russia. That’s the reason why EURTRY, EURHUF and EURPLN moved higher, but I see it only as a temporary move.

EURUSD and EURJPY: The resistance levels held very well and both currency pairs moved already a bit lower, which I see as the beginning of a bigger correction.

The main topic over the next days and maybe weeks will still be the Ukraine, so every news regarding it could be really important for the markets.

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 1,3850 , USDCHF 0,8785 , EURCHF 1,2165 , USDJPY 102,95 , EURJPY 142,55 , EURHUF 314,30 , USDCAD 1,1115 , EURTRY 3,1190, EURPLN 4,2285, GOLD 1.354,00

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:
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:
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