Currency Forecast, November 27th 2013

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Currency Forecast, November 27th 2013

The move lower in the USDJPY and EURJPY was a classic fall and we have seen a new high afterwards. A move above 140,00 in the EURJPY would lead to a stop loss taking, as it would be then clearly a longer trend in sight.

I still think that there should be soon a message from the FED that the easing policy could find an earlier than expected end, as the economy data in the USA are not bad at all anymore and a keeping of this easing policy would only form the next big bubble, which we already see I think.

Today with the numbers – jobless claims, University of Michigan out of the USA, it could give further agreement to my opinion that it would be time for the FED to announce an ending of its easing policy. In this case, stock markets, EURJPY, USDJPY and EURUSD would drop immediately.

Usually we see a rally in the stock market at year-end, but this time I really think we could see it the other way around, as I think next year will be a bad one for the stock markets.

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 1,3585 , USDCHF 0,9060 , EURCHF 1,2310 , USDJPY 101,70 , EURJPY 138,20 , EURHUF 298,90 , USDCAD 1,0555 , GOLD 1.248,00

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