Currency Forecast, November 28th 2013

0
121
Currency Forecast, November 28th 2013
Currency Forecast, November 28th 2013

Currency Forecast, November 28th 2013

Markets again moved higher (stocks, EURJPY, USDJPY), even it already looks overbought, but I will stick to the view that should we trade above 140,00 in the EURJPY that it makes no sense to fight against the trend anymore.

EURHUF traded close to the 300,00 level but has not reached it yet, so I couldn’t sell any EURHUF there unfortunately.

There will be no important numbers released anymore at any time of this week, so a correction can only happen because of profit taking or the trend could last, if some more traders jump on this trend.

Let’s see where the market will end at the end of this week, to think about the positions then on weekend, if maybe something has changed until then.

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