Currency Forecast, October 22nd 2013

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Currency Forecast, October 22nd 2013
Currency Forecast, October 22nd 2013

Currency Forecast, October 22nd 2013

So far a quiet start into the week as traders are waiting for the NFP-numbers (Non-farm payrolls) which will be released this afternoon.

A number of 180k and an unemployment number of 7,3% is expected in the market.

Not sure how the will react on a bad or good number, so it is easier to trade this via EURJPY and USDJPY. If you think that it will be a positive number, then go long on the EURJPY and the USDJPY, when you think it will be a bad number, then sell the EURJPY and USDJPY.

I think the number will disappoint the market, as the US-FED and US-government like to keep the rate on a low level, so a bad number would play into their cards.

Let’s see what happens in a few hours and react then tomorrow morning in case anything big happens.

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 1,3675 , USDCHF 0,9030 , EURCHF 1,2350 , USDJPY 98,30 , EURJPY 134,45 , EURHUF 293,75 , USDCAD 1,0295 , GOLD 1.316,00

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