Forex Strategy: Looking to Sell EUR/USD

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.1211+0.006

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
    1.3463-0.0021-0.16%
    USDSGD=X
    1.5093+0.0058+0.39%
    EURSGD=X
    2.0610-0.008-0.39%
    GBPSGD=X
    92.3557+0.3355+0.36%
    SGDJPY=X
    5.7592+0.0074+0.13%
    SGDHKD=X
    2.7404+0.0145+0.53%
    SGDMYR=X
    9,825.6240+44.0225+0.45%
    SGDIDR=X
    4.6049+0.0097+0.21%
    SGDCNY=X
    1.0489+0.0009+0.09%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,190.40-4.00-0.33%
    GCQ15.CMX
    16.58-0.22-1.33%
    SIN15.CMX
    70.17-0.36-0.51%
    ^XAU
    2.740.00-0.02%
    HGN15.CMX
    60.56-0.70-1.14%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.67+0.06
    ^FVX
    2.34+0.07
    ^TNX
    3.08+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    4.07+0.09+2.26%
    Z74.SI
    0.72-0.02-3.36%
    N21.SI
    0.31+0.02+6.90%
    AFC.SI
    0.290.000.00%
    5WA.SI
    0.210.00+2.44%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.39+0.10+34.48%
    Y06.SI
    0.30+0.05+20.00%
    S71.SI
    0.188+0.028+17.50%
    5PI.SI
    0.119+0.017+16.67%
    5I1.SI
    0.205+0.025+13.89%
    5UF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    1.01-0.31-23.48%
    AYO.SI
    0.23-0.05-17.86%
    5HJ.SI
    0.093-0.014-13.08%
    T09.SI
    0.136-0.019-12.26%
    5F4.SI
    0.163-0.019-10.44%
    AVY.SI