Currency Forecast, November 25th 2013

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Currency Forecast, November 25th 2013
Currency Forecast, November 25th 2013

Currency Forecast, November 25th 2013

Quite a big move overnight in the EURJPY and USDJPY, which was not really in my favor. I will follow those currency pairs very closely over the next 24 hours, as a move above the 140,00 level would mean to close and stop my JPY positions I think.

EURUSD is still more or less in a tight range, though it is trying to break through the resistance level on the topside around 1,3570-1,3580.

I am trying to find out, whether this is and was a USD move or only a JPY move or both together. For me it looks like we have only seen a JPY move and EURJPY also pushed EURUSD a bit higher.

Let’s see what the next days will bring to us, but a bigger correction in the JPY market would be necessary soon, as this last move of a weaker JPY was quite unexpected to me.

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 1,3540 , USDCHF 0,9090 , EURCHF 1,2305 , USDJPY 101,85 , EURJPY 137,90 , EURHUF 298,30 , USDCAD 1,0550 , GOLD 1.232,00

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:
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:
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: long 1k @ 1.245,00
Target:
Stop lvl:
Last trade:
P/L (ytd): +258.000 USD

To contact the reporter of this story: Marco Roemer at marco@forexminute.com