Currency Forecast, November 15th 2013

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Currency Forecast, November 15th 2013
Currency Forecast, November 15th 2013

Currency Forecast, November 15th 2013

USDJPY moved above 100,00 so I went short at 99,90. Also, the EURCHF moved higher, so I could take profit at 1,2340.

As I could take profit on the EURCHF, I like to open a new position and this is EURJPY, where I sold some at 134,90.

I think there should be soon a correction of EURJPY and USDJPY (both lower) and I see the last move above 100,00 and 135,00 as a final move of taking out stops.

I also would see a correction soon of GBPUSD, but as I am already enough positioned in USD, I don’t like to open this position now, but I would expect a move below the 1,6000 level again soon.

All in all the week will end more or less quiet, as there will be no important numbers released today, so I would expect small corrections of current levels.

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 1,3450 , USDCHF 0,9180 , EURCHF 1,2330 , USDJPY 100,30 , EURJPY 134,90 , EURHUF 298,15 , USDCAD 1,0480 , GOLD 1.282,00

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: Short 3 @ 134,90
Target:
Stop lvl:
Last trade: Sold 3 @ 134,90
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: Flat
Target:
Stop lvl:
Last trade: Sold 3 @ 1,2340
P/L (ytd): +741 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