Forex Strategy: Looking to Sell EUR/USD

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.1239-0.0072

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 Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4161+0.0034+0.24%
    USDSGD=X
    1.5918-0.006-0.38%
    EURSGD=X
    2.1678+0.0056+0.26%
    GBPSGD=X
    84.8694+0.3438+0.41%
    SGDJPY=X
    5.4729-0.0132-0.24%
    SGDHKD=X
    2.9801+0.0113+0.38%
    SGDMYR=X
    9,998.9727+59.1064+0.59%
    SGDIDR=X
    4.4874-0.0194-0.43%
    SGDCNY=X
    0.9961+0.0051+0.52%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,133.70-6.10-0.54%
    GCZ15.CMX
    14.66+0.05+0.31%
    SIZ15.CMX
    45.79-1.02-2.17%
    ^XAU
    2.33+0.02+1.02%
    HGZ15.CMX
    45.41-0.01-0.02%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51+0.01
    ^FVX
    2.19+0.02
    ^TNX
    2.96+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.132+0.004+3.12%
    5DN.SI
    0.310.00-1.59%
    5WA.SI
    0.53+0.01+1.92%
    N21.SI
    0.3050.0000.00%
    E5H.SI
    3.67-0.04-1.08%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.28+0.05+21.74%
    L38.SI
    0.24+0.04+21.21%
    C10.SI
    0.295+0.045+18.00%
    578.SI
    0.485+0.055+12.79%
    MN5.SI
    0.33+0.03+10.00%
    5VI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.105-0.033-23.91%
    5DL.SI
    0.17-0.03-15.00%
    5G1.SI
    0.094-0.016-14.55%
    F10.SI
    0.095-0.015-13.64%
    T77.SI
    0.14-0.02-12.50%
    T19.SI