Forex Strategy: Looking to Sell EUR/USD

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.0778+0.0037

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
    1.3622-0.0107-0.78%
    USDSGD=X
    1.4683-0.0065-0.44%
    EURSGD=X
    2.0200-0.0156-0.77%
    GBPSGD=X
    87.7549+0.2863+0.33%
    SGDJPY=X
    5.6906+0.0443+0.78%
    SGDHKD=X
    2.7026+0.0044+0.16%
    SGDMYR=X
    9,537.8281+21.8135+0.23%
    SGDIDR=X
    4.5507+0.0352+0.78%
    SGDCNY=X
    1.0376-0.0078-0.74%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,204.90+21.70+1.83%
    GCM15.CMX
    16.91+0.31+1.85%
    SIK15.CMX
    68.54+3.04+4.64%
    ^XAU
    2.75+0.01+0.24%
    HGK15.CMX
    49.58+1.98+4.16%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.32-0.06
    ^FVX
    1.86-0.08
    ^TNX
    2.46-0.08
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.188+0.005+2.73%
    A50.SI
    0.2850.0000.00%
    5WA.SI
    0.915-0.005-0.54%
    N21.SI
    0.785+0.020+2.61%
    Y92.SI
    0.415-0.010-2.35%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.19+0.05+35.71%
    5RC.SI
    0.42+0.09+27.27%
    5UL.SI
    0.42+0.07+21.74%
    5DS.SI
    0.152+0.016+11.76%
    K2P.SI
    0.127+0.011+9.48%
    V69.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.029-17.06%
    40B.SI
    0.092-0.013-12.38%
    A18.SI
    0.13-0.02-12.16%
    L10.SI
    0.495-0.055-10.00%
    TI6.SI
    0.112-0.011-8.94%
    B32.SI