Currency Forecast, September 27th 2013

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Currency Forecast, September 27th 2013
Currency Forecast, September 27th 2013

Currency Forecast, September 27th 2013

Another 24 hours of trading where nothing has happened. Only the EURJPY trades close to the 133,00 level again, though we need to break the 132,50 level, to see a bigger trend lower (which we will see in my opinion). EURUSD needs to break the 1,3450 level and then the 1,3370 level to also see this trend there. A break through the 1,3550-1,3570 area would mean a break out of the big range and could lead to a quick move towards 1,3700.

I like to hold on to the positions for now, but a break through that area, would of course change the outlook.

I increased the EURCHF position here at 1,2265 – as nothing big can happen here, as the SNB would be there in any case anyway and a move above 1,2300 will be seen very soon.

Today there will be some important economy data released out of the USA (consumer spending and consumer price index), which could shake the markets a bit, should we see unexpected numbers.

Good luck,

**relatesarticle**

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 1,3500 , USDCHF 0,9085 , EURCHF 1,2265 , USDJPY 98,65 , EURJPY 133,10 , EURHUF 299,75 , USDCAD 1,0320 , GOLD 1.326,00

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 3 @ 1,2288
Target:
Stop lvl:
Last trade: Bought 1 @ 1,2265
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