Currency Forecast, November 7th 2013

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Currency Forecast, November 7th 2013
Currency Forecast, November 7th 2013

Currency Forecast, November 7th 2013

Today will be the beginning of a volatile market, once the ECB announced the rate decision plus the press conference afterwards.

Even the ECB doesn’t cut the rate, Draghi will mention that a rate cut in December then is more than likely.

EURCHF moved higher as expected, but there are still some pips missing to sell at 1,2340.

Let’s see what happens after ECB rate decision, which will give us a better outlook then for the next week.

Good luck,

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.

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Current spot: EURUSD 1,3505 , USDCHF 0,9130 , EURCHF 1,2335 , USDJPY 98,70 , EURJPY 133,30 , EURHUF 296,65 , USDCAD 1,0410 , GOLD 1.315,00

EURUSD
(Entry lvl):
Current position: Short 3 @ 1,3150
Target:
Stop lvl:
Last trade:
P/L (ytd): -110 pips

USDJPY
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +2240 pips

EURJPY
(Entry lvl): buy 3 @ 131,75
Current position: Flat
Target:
Stop lvl:
Last trade: Bought 3 @ 133,15
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: long 3 @ 1,2300
Target:
Stop lvl:
Last trade: bought 3 @ 1,2300
P/L (ytd): +621 pips

EURHUF
(Entry lvl): Buy 3 @ 292,00
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