Currency Forecast, November 29th 2013

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Currency Forecast, November 29th 2013
Currency Forecast, November 29th 2013

Currency Forecast, November 29th 2013

EURJPY tried to reach the 140,00 level but has failed so far. So as long as we don’t break this level I stick to the position.

EURHUF traded higher and printed a high of 301,30 , so I sold some at 300,00 (Carry trade).

I don’t expect a volatile market for today, as there will be no important market data released.

The closer we get to the year end the more quiet the market should be. There is only one thing I am a bit scared of. That people will push the stock market higher until the start of next year and that would also push EURJPY and USDJPY higher, but let’s see how strong the resistance level at 140,00 holds.

For the EURUSD I don’t expect any big moves anymore this year and it should stay within the range of 1,35-1,37 until we start the next trading year.

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 1,3615 , USDCHF 0,9045 , EURCHF 1,2315 , USDJPY 102,25 , EURJPY 139,20 , EURHUF 300,70 , USDCAD 1,0590 , GOLD 1.246,00

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):
Current position: Short 3 @ 300,00
Target:
Stop lvl:
Last trade: Sold 3 @ 300,00
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