Currency Forecast, October 25th 2013

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Currency Forecast, October 25th 2013
Currency Forecast, October 25th 2013

Currency Forecast, October 25th 2013

Market still trades in a tight range and I expect it to be the same for the whole day.

The market looks way too overbought, especially the EURUSD plus stocks in general. The next crisis I don’t like to feel, when it starts happening and we easily could see the next one, once the central banks start decreasing the liquidity. Everyone just puts his money into the stock market at the moment, which is very dangerous.

It is possible that we take out the 1,4000 level in the EURUSD, but there is a lot more money to make if you are short on the EUR, as the market is already overbought and a fall in the EURUSD could be much sharper than an increase above the 1,4000 level.

Let’s see what the weekend brings, if there will be any news released out of the Europe or the USA. Also, keep in mind that there is still some danger out of China, as people fear that liquidity there could be a problem in the near future.

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.

Current spot: EURUSD 1,3815 , USDCHF 0,8915 , EURCHF 1,2310 , USDJPY 97,00 , EURJPY 134,05 , EURHUF 293,00 , USDCAD 1,0440 , GOLD 1.342,00

**relatedarticle**

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