Currency Forecast, September 2nd 2013

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Currency Forecast, September 2nd 2013
Currency Forecast, September 2nd 2013

Currency Forecast, September 2nd 2013

YEN was again the only currency which has moved over the last 24 hours. USDJPY is trading around 99,25 and EURJPY at 131,20. I like to use this opportunity to sell a small amount of EURJPY, as it seems a bit overbought to me and I also expect some profit takers here.

EURUSD, USDCHF, USDCAD, EURHUF, EURCHF has not moved at all and I expect this week to be a calm one until the Nonfarm Payrolls number which will be released on Friday. Only a change in the Syria theme could cause some bigger market moves of course.

So for now it is just to hold on to the position and wait for the next move lower in EURUSD, or let’s say to wait for the next USD boost.

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 1,3215 , USDCHF 0,9320 , EURCHF 1,2320 , USDJPY 99,25 , EURJPY 131,20 , EURHUF 299,90 , USDCAD 1,0530 , GOLD 1.390,00

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): +1810 pips

EURJPY

(Entry lvl):

Current position: short 1 @ 131,20

Target:

Stop lvl:

Last trade: Sold 1 @ 131,20

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 @ 1,2280

Target:

Stop lvl:

Last trade:

P/L (ytd): +130 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: Short 2 @ 1,0520

Target:

Stop lvl:

Last trade:

P/L (ytd): +240 pips

XAUUSD (Gold)  

(Entry lvl):

Current position: short 3k ounces @ 1343,00

Target:

Stop lvl:

Last trade:

P/L (ytd): +118.000 USD

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