FOREX Technical Analysis: EUR/USD Trendline in Play for NFP at 1.2955

By Jamie Saettele, CMT | DailyFX – Fri, Jan 4, 2013 11:34 AM SGT

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SymbolPriceChange
EURUSD=X1.2824-0.00

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FOREX_Technical_Analysis_EURUSD_Trendline_in_Play_for_NFP_at_1.2955_body_eurusd.png, FOREX Technical Analysis: EUR/USD Trendline in Play for NFP at 1.2955

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: EURUSD weakness to begin the year is intense to say the least. In fact, today’s drop constitutes a JS Thrust (largest range over the last 20 days and a down day) and may signal the beginning of a larger bear move. Still, expect a reaction at 13000, which was resistance at times throughout October and November. Trendline support comes in at about 12955 tomorrow.

FOREX Trading Strategy: I’m looking to fade (buy) weakness at or just below 12950 IF on a reaction just after NFP tomorrow.

LEVELS: 12907 12950 1298313080 1312313158

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Market Data

  • Currencies
    NamePriceChange% Chg
    1.26940.00+0.17%
    USDSGD=X
    1.62970.00+0.06%
    EURSGD=X
    1.90850.00+0.12%
    GBPSGD=X
    80.0741-1.31-1.61%
    SGDJPY=X
    6.1153-0.01-0.15%
    SGDHKD=X
    2.39950.02+0.64%
    SGDMYR=X
    7,693.8848-13.36-0.17%
    SGDIDR=X
    4.8340-0.01-0.16%
    SGDCNY=X
    1.2208-0.01-0.63%
    AUDSGD=X
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    NamePriceChange% Chg
    1,373.506.10+0.45%
    GCM13.CMX
    22.20-0.27-1.19%
    SIN13.CMX
    101.301.08+1.07%
    ^XAU
    3.30-0.09-2.53%
    HGN13.CMX
    93.60-0.68-0.72%
    CLN13.NYM
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  • Bonds
    TreasuryYield (%)Yield Change
    0.890.06
    ^FVX
    2.030.08
    ^TNX
    3.210.06
    ^TYX
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  • Most Actives
    NamePriceChange% Chg
    1.92-0.26-11.93%
    C52.SI
    0.11-0.00-1.79%
    5RJ.SI
    0.115-0.00-4.17%
    5HC.SI
    0.1320.00+1.54%
    5GC.SI
    0.1670.01+3.73%
    I12.SI
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    NamePriceChange% Chg
    0.5150.04+8.42%
    S48.SI
    0.230.02+9.52%
    543.SI
    0.1860.01+7.51%
    Z75.SI
    0.160.01+6.67%
    H20.SI
    0.6750.04+6.30%
    5NF.SI
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    NamePriceChange% Chg
    0.098-0.04-27.41%
    O57.SI
    0.115-0.02-14.18%
    N6H.SI
    0.106-0.02-12.40%
    S71.SI
    1.92-0.26-11.93%
    C52.SI
    0.10-0.01-7.41%
    C11.SI
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