Currency Forecast, October 16th 2013

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Currency Forecast, October 16th 2013
Currency Forecast, October 16th 2013

Currency Forecast, October 16th 2013

We are still waiting for the final agreement of the two parties in the USA about the debt ceiling. I still think that we will see this within the next 48 hours and this will give stocks and the USA another boost. Also, the USDJPY will move higher once more then and a level of 99,00 could be seen easily.

I also expect the EURCHF to move higher with this and to test the 1,2400 level. Around 1,2400 I would like to take profit for info, as it would be also good for the USDCHF.

Until the situation in the USA is clear, and politicians find an agreement or not, I expect the market to be quiet, so it is a bit of waiting for that information for now.

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 1,3535 , USDCHF 0,9125 , EURCHF 1,2345 , USDJPY 98,40 , EURJPY 133,20 , EURHUF 295,95 , USDCAD 1,0370 , GOLD 1.277,00

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):
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): Buy 2k ounces @ 1250,00
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