Currency Forecast, October 23rd 2013

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Currency Forecast, October 23rd 2013
Currency Forecast, October 23rd 2013

Currency Forecast, October 23rd 2013

The payrolls number yesterday was a bit worse than expected, but the unemployment rate was slightly better plus the revisions of the last NFP-number was much better. For that reason EURJPY moved first higher, but I still think all in all the number is not really the best one, so we should see a decline of EURJPY soon.

EURUSD becomes more and more a bit of pain, though I still think we will see a stronger USD in general soon. Europe is not in that much of a better condition than the . Traders should note the EUR is worth 37% more worth than the USD.

Should we see EURJPY trading below 133,00 , I would like to set a stop profit level at 133,50.

I also still like to go long EURHUF, should it trade at 290,00.

For now I just like to keep the positions and wait for the end of the week to hopefully see some flows until then.

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 1,3745 , USDCHF 0,8965 , EURCHF 1,2325 , USDJPY 97,50 , EURJPY 134,00 , EURHUF 292,50 , USDCAD 1,0335 , GOLD 1.335,00

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