Forex Strategy: Looking to Sell EUR/USD

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.1294+0.0003

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
    1.3922-0.0046-0.33%
    USDSGD=X
    1.5725-0.0046-0.29%
    EURSGD=X
    2.0159-0.005-0.25%
    GBPSGD=X
    82.3826-0.0309-0.04%
    SGDJPY=X
    5.5964+0.0139+0.25%
    SGDHKD=X
    2.9801-0.007-0.23%
    SGDMYR=X
    9,623.6719-105.7227-1.09%
    SGDIDR=X
    4.7229+0.0788+1.70%
    SGDCNY=X
    0.9847-0.0035-0.36%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,191.20-7.40-0.62%
    GCJ16.CMX
    15.24-0.21-1.35%
    SIH16.CMX
    54.34-2.43-4.28%
    ^XAU
    2.040.00-0.22%
    HGH16.CMX
    28.54+0.60+2.15%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.150.00
    ^FVX
    1.73-0.01
    ^TNX
    2.55-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.32-0.01-3.03%
    N21.SI
    1.635-0.045-2.68%
    MC0.SI
    3.62-0.08-2.16%
    Z74.SI
    0.675-0.030-4.26%
    G13.SI
    0.37-0.01-3.90%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.06+37.50%
    5WR.SI
    0.40+0.06+17.65%
    MN5.SI
    62.06+7.42+13.58%
    NF6.SI
    34.85+3.03+9.52%
    NF4.SI
    0.515+0.035+7.29%
    D11.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    1.33-0.42-24.00%
    5SR.SI
    0.194-0.036-15.65%
    S9B.SI
    0.44-0.07-13.73%
    RQ1.SI
    3.40-0.45-11.69%
    H1O.SI
    0.36-0.04-10.00%
    BJE.SI