Currency Forecast, November 21st 2013

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Currency Forecast, November 21st 2013
Currency Forecast, November 21st 2013

Currency Forecast, November 21st 2013

EURUSD moved a bit lower, but I would have thought the EURJPY will also move lower, but it moved slightly higher and also pushed USDJPY a bit higher, though it was not a huge move, so it’s all fine.

Today will be some important inflation data released out of the USA, which could give some better outlook for the FED strategy.

Over the next few weeks, I expect a weaker EUR in general plus a stronger JPY too, so to being short on the EURJPY and USDJPY is the best thing currently in my opinion. For this reason, I increased the USDJPY position to the size of 3.

If you like to play it via binary options, I would suggest to buy a 1 week 100,00 USDJPY option or even a 99,50 strike.

The big mover was gold, which currently trades around $ 1.250,– per once. I will look today at some charts and hear around in the market, if there are further stops on the downside. If not, it might be a nice buying opportunity. I will decide this tomorrow.

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 1,3430 , USDCHF 0,9175 , EURCHF 1,2330 , USDJPY 100,75 , EURJPY 135,30 , EURHUF 297,50 , USDCAD 1,0470 , GOLD 1.247,00

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 3 @ 100,18
Target:
Stop lvl:
Last trade: Sold 1 @ 100,75
P/L (ytd): +2240 pips

EURJPY
(Entry lvl):
Current position: Short 3 @ 134,90
Target:
Stop lvl:
Last trade:
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