Currency Forecast, November 13th 2013

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Currency Forecast, November 13th 2013
Currency Forecast, November 13th 2013

Currency Forecast, November 13th 2013

The euro rebounded a bit and is trading around 1,3430 again. Without any news, I expect the EURUSD to trade within the range of 1,3350/1,3550 for the next days.

USDJPY could be a nice opportunity soon, as I think we will see a lot of sellers, once we hit the 100,00 level. That’s why I would like to go short USDJPY at 99,90.

Also EURHUF gets interesting again, as we trade close to the 300,00 level, where I would like to go short.

For now we have to focus on Europe, as there is some kind of danger that we could have a deflation, which would be very bad for the euro. The question is, if France and Italy are doing well the next months or not.

**relatedarticle**

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.

Current spot: EURUSD 1,3420 , USDCHF 0,9165 , EURCHF 1,2300 , USDJPY 98,20 , EURJPY 131,80 , EURHUF 296,35 , USDCAD 1,0460 , GOLD 1.311,00

EURUSD
(Entry lvl):
Current position: Short 3 @ 1,3150
Target:
Stop lvl:
Last trade:
P/L (ytd): -110 pips

USDJPY
(Entry lvl): Sell 2 @ 99,90
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +2240 pips

EURJPY
(Entry lvl):
Current position: Flat
Target:
Stop lvl:
Last trade: Bought 3 @ 133,15
P/L (ytd): +1078 pips

USDCHF
(Entry lvl):
Current position: Long 3 @ 0,9366
Target:
Stop lvl:
Last trade:
P/L (ytd): +440 pips

EURCHF
(Entry lvl):
Current position: long 3 @ 1,2300
Target:
Stop lvl:
Last trade:
P/L (ytd): +621 pips

EURHUF
(Entry lvl): Sell 3 @ 300,00
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +2540 pips

USDCAD
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +500 pips

XAUUSD (Gold)
(Entry lvl):
Current position:
Target:
Stop lvl:
Last trade:
P/L (ytd): +258.000 USD

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