Currency Forecast, November 14th 2013

0
135
Currency Forecast, November 14th 2013
Currency Forecast, November 14th 2013

Currency Forecast, November 14th 2013

Another day within tight ranges. Only USDJPY moved close to the 100,00 level. So far the high was at 99,89 (I like to sell at 99,90), but I would say this is just a question of minutes to see a test of 100,00.

Also EURCHF moves closes and closer to my take profit level at 1,2340.

For EURUSD I would expect a correction to the downside, as we could not break through 1,3500 level. Today will be the trade balance released, which could have a big impact on USDJPY.

EURHUF moved a bit lower again, but I don’t want to get involved unless we see it at 300,00 before.

For the big picture, it will be interesting if we see a deflation in the Eurozone in the near term or not. If there would be deflation, the EUR could be hit really hard. If there is no deflation, then the Euro could move higher again towards the 1,4000 level, but I think Europe is in worse condition than most people think.

And just for info, during my writing here today, USDJPY moved to 99,90 , so I sold spot there.

**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 1,3460 , USDCHF 0,9165 , EURCHF 1,2330 , USDJPY 99,85 , EURJPY 134,45 , EURHUF 298,35 , USDCAD 1,0480 , GOLD 1.286,00

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

USDJPY
(Entry lvl):
Current position: Short 2 @ 99,90
Target:
Stop lvl:
Last trade: Sold 2 @ 99,90
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