Currency Forecast, October 14th 2013

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Currency Forecast, October 14th 2013
Currency Forecast, October 14th 2013

Currency Forecast, October 14th 2013

Today is a holiday in the USA, so I don’t expect any big moves in the FX-market.

We have seen the move higher in the USDJPY and I took profit now on the long position here at 98,30.

I also stopped as said the gold position @ 1.302,– and I would like to get long Gold, should we trade around 1.250,– per ounce.

EURCHF looks bullish to me so I like to keep the long position there for a move higher towards the 1,2400 level.

I am still waiting for the move lower in the EURUSD, which I still think that it will happen. Not to be too long the USD, I closed the USDJPY position and wait for better levels to jump in again.

I think we will also see an official agreement about the debt ceiling this week, which will give the USD and the stocks a big boost.

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 1,3525 , USDCHF 0,9085 , EURCHF 1,2290 , USDJPY 97,35 , EURJPY 131,70 , EURHUF 295,75 , USDCAD 1,0375 , GOLD 1.317,00

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: Sold 2 @ 98,30
P/L (ytd): +2240 pips

EURJPY
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +823 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 @ 1,2288
Target:
Stop lvl:
Last trade:
P/L (ytd): +390 pips

EURHUF
(Entry lvl):
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: 1302,00
Last trade: Sold 2k @ 1302,00
P/L (ytd): +258.000 USD

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