Currency Forecast, September 24th 2013

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Currency Forecast, September 24th 2013
Currency Forecast, September 24th 2013

Currency Forecast, September 24th 2013

Markets have not moved at all over the last 24 hours as traders are waiting for some new news or more important economic data out of the USA, to see if the USD weakness is a trend or will change again soon.

EURCHF traded/trades around 1,2300, so I bought some there with a target of 1,2360 where I already like to sell them again.

The rest is just waiting for now, as I think this USD weakness will end very soon. Overall I still expect a strong USD over the next months, as the economy in the USA is in a much better condition than in Europe, which will lead to higher interest rates in the USA.

There will be no important economy data released today, so we have to wait, if we maybe hear some new news out of the USA regarding an end of its easing policy or out of Europe about a new country in trouble.

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 1,3510 , USDCHF 0,9105 , EURCHF 1,2300 , USDJPY 99,15 , EURJPY 133,90 , EURHUF 298,80 , USDCAD 1,0280 , 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:
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: long 2 @ 1,2300
Target:
Stop lvl:
Last trade: Bought 2 @ 1,2300
P/L (ytd): +390 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: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +238.000 USD

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