Forex Strategy: Looking to Sell EUR/USD

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.0579-0.0001

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
    0.26-0.01-3.70%
    N21.SI
    0.135+0.004+3.05%
    41F.SI
    0.191-0.007-3.54%
    40F.SI
    0.1060.0000.00%
    5WA.SI
    0.38-0.02-3.80%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.515+0.195+60.94%
    AWC.SI
    0.525+0.075+16.67%
    T55.SI
    0.36+0.04+12.50%
    P9J.SI
    0.59+0.04+8.26%
    J2T.SI
    0.28+0.02+7.69%
    BDU.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.565-0.065-10.32%
    600.SI
    0.26-0.01-3.70%
    N21.SI
    0.945-0.050-5.03%
    BS6.SI
    0.215-0.005-2.27%
    566.SI
    1.74-0.08-4.13%
    S51.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4069-0.0007-0.05%
    USDSGD=X
    1.4882-0.0007-0.05%
    EURSGD=X
    1.7650-0.0015-0.08%
    GBPSGD=X
    80.1450+0.083+0.10%
    SGDJPY=X
    5.5138+0.003+0.05%
    SGDHKD=X
    3.1605-0.0021-0.07%
    SGDMYR=X
    9,512.7930-11.542-0.12%
    SGDIDR=X
    4.8833+0.0055+0.11%
    SGDCNY=X
    1.0847-0.0008-0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,251.10-0.30-0.02%
    GCJ17.CMX
    18.17+0.06+0.32%
    SIH17.CMX
    89.61-0.30-0.34%
    ^XAU
    2.66+0.01+0.55%
    HGH17.CMX
    54.34-0.11-0.20%
    CLJ17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.88-0.03
    ^FVX
    2.39-0.03
    ^TNX
    3.02-0.01
    ^TYX