Forex Strategy: Looking to Sell EUR/USD

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.0990+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
    1.3575-0.0009-0.06%
    USDSGD=X
    1.4918-0.0004-0.03%
    EURSGD=X
    1.7829+0.0018+0.10%
    GBPSGD=X
    77.3820+0.319+0.41%
    SGDJPY=X
    5.7125+0.0033+0.06%
    SGDHKD=X
    2.9913+0.0011+0.04%
    SGDMYR=X
    9,690.2549-4.9248-0.05%
    SGDIDR=X
    4.9146+0.0053+0.11%
    SGDCNY=X
    1.0198+0.0001+0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,317.60-3.20-0.24%
    GCQ16.CMX
    19.64-0.04-0.22%
    SIU16.CMX
    103.00+3.11+3.11%
    ^XAU
    2.230.000.00%
    HGU16.CMX
    42.73-0.19-0.44%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.140.00
    ^FVX
    1.56-0.01
    ^TNX
    2.28-0.01
    ^TYX

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