Forex Strategy: Looking to Sell EUR/USD

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.1245-0.0007

Hints of ECB rate cuts that emerged in Mario Draghi’s press conference following last week’s rate decision were reinforced as the Bundesbank slashed Germany’s 2013 growth outlook to a meager 0.4 percent from 1.6 percent estimated previously, putting the Euro under pressure. I will look for a near-term pull-up to 1.2978 as Greece gets its bailout cash tranche this week for improved risk/reward parameters and enter short, targeting 1.2830 initially. Once the trade is triggered, a stop-loss will be set t activate on a daily close above 1.3126.

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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.108+0.005+4.85%
    43E.SI
    3.960.000.00%
    Z74.SI
    0.102+0.001+0.99%
    40E.SI
    0.137-0.001-0.72%
    N21.SI
    0.122+0.002+1.67%
    A50.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.53+0.03+6.00%
    BFK.SI
    0.72+0.04+5.11%
    AVM.SI
    2.53+0.12+4.98%
    U04.SI
    0.108+0.005+4.85%
    43E.SI
    0.61+0.03+4.27%
    5UJ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.205-0.055-21.15%
    40D.SI
    0.151-0.039-20.53%
    BGO.SI
    0.39-0.08-16.13%
    K1Q.SI
    0.64-0.10-13.51%
    5VJ.SI
    0.59-0.03-4.07%
    BMH.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3610+0.0008+0.06%
    USDSGD=X
    1.5308+0.0005+0.03%
    EURSGD=X
    1.7674+0.0046+0.26%
    GBPSGD=X
    74.0630+0.339+0.46%
    SGDJPY=X
    5.6959-0.0034-0.06%
    SGDHKD=X
    3.0346+0.0004+0.01%
    SGDMYR=X
    9,570.4951-8.3271-0.09%
    SGDIDR=X
    4.8988-0.003-0.06%
    SGDCNY=X
    1.0405+0.0019+0.18%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,342.10-2.00-0.15%
    GCZ16.CMX
    19.56-0.04-0.18%
    SIZ16.CMX
    94.45-1.31-1.37%
    ^XAU
    2.18-0.02-0.82%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.13-0.03
    ^FVX
    1.59-0.03
    ^TNX
    2.33-0.01
    ^TYX