Currency Forecast, September 17th 2013

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Currency Forecast, September 17th 2013
Currency Forecast, September 17th 2013

Currency Forecast, September 17th 2013

A weaker USD was the result of the rumor that the FED could extend its easing policy, though I am not that sure about it. I still think that it will come to an earlier end than everyone is expecting.

Overall it should be a quiet day today, as everyone is waiting for the rate decision in the USA and the press conference afterwards. There we could get some new info about the easing policy and when a possible end could arrive.

The next move I see is a lower EURUSD, lower EURJPY and a stuck USDJPY exchange rate. Also EURCHF should make another move lower, though not a huge one. That’s why I closed the USDJPY position here @ 99,15.

EURHUF also looks fine for now and I still like to keep the position.

Gold has to move further lower and I still like to take profit below 1300,00 per ounce.

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 1,3360 , USDCHF 0,9260 , EURCHF 1,2370 , USDJPY 99,15 , EURJPY 132,45 , EURHUF 299,30 , USDCAD 1,0320 , GOLD 1.319,00

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: Bought 2 @ 99,15
P/L (ytd): +1980 pips

EURJPY
(Entry lvl):
Current position: short 3 @ 132,26
Target:
Stop lvl:
Last trade:
P/L (ytd): +640 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: short 2 @ 1,2375
Target:
Stop lvl:
Last trade:
P/L (ytd): +290 pips

EURHUF
(Entry lvl):
Current position: Short 2 @ 299,90
Target:
Stop lvl:
Last trade:
P/L (ytd): +1560 pips

USDCAD
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +500 pips

XAUUSD (Gold)
(Entry lvl):
Current position: short 3k ounces @ 1343,00
Target: 1300,00
Stop lvl:
Last trade:
P/L (ytd): +118.000 USD

To contact the reporter of this story: Marco Roemer at marco@forexminute.com