Currency Forecast, November 18th 2013

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Currency Forecast, November 18th 2013
Currency Forecast, November 18th 2013

Currency Forecast, November 18th 2013

EURJPY and USDJPY moved slightly higher to take out the last stops and is now back below the 100,00 and 135,00 levels.

This week, respectively Wednesday and Thursday we will see some numbers out of the USA regarding the economy, which could be quite interesting. Until this, I expect a very quiet market and it is the best time again for those, who like to trade small ranges.

I am fine for now with the positions and will wait until end of the week to hopefully take some profit on the EURJPY and USDJPY position, as bad numbers would lead to decline of both currency pairs.

EURUSD seems to be stuck here around the 1,3500 level, as market participants are waiting for some news out of USA or Europe to get some new fantasy for where the market could move and why it should.

Good luck,

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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 1,3505 , USDCHF 0,9130 , EURCHF 1,2330 , USDJPY 99,95 , EURJPY 134,95 , EURHUF 297,15 , USDCAD 1,0420 , GOLD 1.284,00

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