Currency Forecast, March 5th 2014

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Currency Forecast, March 5th 2014
Currency Forecast, March 5th 2014

Currency Forecast, March 5th 2014

The situation in the Ukraine is still calming down more and more, though you can never know what will happen next. That’s why I still like to buy back that 1 EURTRY @ 3,0250 , which is only around 50 pips away.

EURCHF and USDCHF also moved higher again over the last 24 hours, which is fine. EURJPY also moved a touch higher, but I see the JPY in general stronger in the next weeks, so it should trade below 140,00 again soon.

Tomorrow we also have the ECB rate decision, which will be interesting in regards of the speech later on, if there is again the statement about possible negative interest rates, what could send the Euro lower again.

For info: The USDCHF position I would like to keep a bit longer (at least until EURCHF trades around 1,2230-1,2250).

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 1,3725 , USDCHF 0,8880 , EURCHF 1,2190 , USDJPY 102,40 , EURJPY 140,50 , EURHUF 309,90 , USDCAD 1,1080 , EURTRY 3,0300, EURPLN 4,1850, GOLD 1.330,00

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 2 @ 139,72
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): Buy 1 @ 3,0250
Current position: Short 3 @ 3,0378
Target:
Stop lvl:
Last trade:
P/L (ytd): +639 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): Buy 2 @ 4,1400
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