Currency Forecast, October 18th 2013

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Currency Forecast, October 18th 2013
Currency Forecast, October 18th 2013

Currency Forecast, October 18th 2013

Well, this move in the EURUSD surprised me a bit, as I would have thought that the agreement in the USA would have made things different. I like to use this opportunity to sell some EURJPY here, as I think this market regarding the EURUSD, EURJPY is overbought.

At one point soon, there will be the discussion about the FED and its end of the easing policy, which will send the stock markets and EURJPY lower.

USDJPY is in the middle of its range, so I like to stay out here and wait for better entry levels.

EURHUF could be interesting to get long this time, but first we would need to see it trading around 290,00.

Today, for a Friday, there will be no important numbers released at all, so I would expect a quite end of the week.

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 1,3680 , USDCHF 0,9025 , EURCHF 1,2350 , USDJPY 98,00 , EURJPY 134,00 , EURHUF 294,75 , USDCAD 1,0290 , GOLD 1.320,00

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: Short 3 @ 134,00
Target:
Stop lvl:
Last trade: Sold 3 @ 134,00
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