Currency Forecast, November 22nd 2013

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Currency Forecast, November 22nd 2013
Currency Forecast, November 22nd 2013

Currency Forecast, November 22nd 2013

A message from someone from the FED was the market mover yesterday, as the message was that the FED will keep its easing policy for a longer period. Stock markets, EURUSD and EURJPY moved higher on that, though the gains were limited and I expect a correction of this last move already today.

I decided to buy a small amount of gold here at 1.245,– (only 1k ounces).

The stock markets are way overbought in my opinion and the last 1.000 or 1.500 points gain of the Dow Jones were only driven by government or FED comments, which looks very dangerous to me. The first decrease in stocks, should there be at one point the statement of the end of the easing policy or even only the thinking about a rate hike, and it could be a real disaster for the stock market. The main move in the forex market would be then in the EURJPY and USDJPY and I want to be involved in this possible outcome.

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 1,3495 , USDCHF 0,9130 , EURCHF 1,2320 , USDJPY 101,00 , EURJPY 136,30 , EURHUF 297,90 , USDCAD 1,0550 , GOLD 1.244,00

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