Currency Forecast, October 24th 2013

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Currency Forecast, October 24th 2013
Currency Forecast, October 24th 2013

Currency Forecast, October 24th 2013

Again, we don’t see any new direction in the market. EURUSD made a new high above 1,3800, but came back immediately and is trading again around 1,3775. EURJPY seems also to be stuck at the moment though I still expect to see some movement there soon.

EURCHF traded down to 1,2290 which was not the best move at all, but looks like some CHF-loan takers converted their loans to EUR-loans, plus maybe also some people in Hungary did that.

Today, there will be the jobless claims number released of the USA. I don’t expect much impact on that number, unless it is not extremely out of the line of expectations.

So it will be another day of waiting for the bigger correction of the market and today will be a perfect day for those traders, who like to trade very small ranges.

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.

**relatedarticle**

Current spot: EURUSD 1,3775 , USDCHF 0,8925 , EURCHF 1,2290 , USDJPY 97,40 , EURJPY 134,15 , EURHUF 293,10 , USDCAD 1,0395 , 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: Jonathan Millet at john@forexminute.com