Forex Strategy: Looking to Sell EUR/USD

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.3816+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
    1.2507-0.0024-0.19%
    USDSGD=X
    1.7280-0.003-0.18%
    EURSGD=X
    2.1008+0.0048+0.23%
    GBPSGD=X
    81.7544+0.4581+0.56%
    SGDJPY=X
    6.1999+0.0126+0.20%
    SGDHKD=X
    2.5920+0.0033+0.13%
    SGDMYR=X
    9,179.7627+54.7529+0.60%
    SGDIDR=X
    4.9734+0.0087+0.18%
    SGDCNY=X
    1.1729-0.0002-0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,302.40+2.10+0.16%
    GCM14.CMX
    19.61+0.12+0.62%
    SIK14.CMX
    90.87-1.00-1.09%
    ^XAU
    3.03+0.04+1.39%
    HGK14.CMX
    103.67-0.08-0.08%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.65+0.04
    ^FVX
    2.64+0.01
    ^TNX
    3.45-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.117-0.006-4.88%
    B22.SI
    1.275+0.020+1.59%
    N21.SI
    2.190.0000.00%
    JS8.SI
    0.605+0.015+2.54%
    E5H.SI
    0.97+0.060+6.59%
    B20.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.445+0.055+14.10%
    5UL.SI
    0.20+0.020+11.11%
    567.SI
    0.174+0.013+8.07%
    540.SI
    0.67+0.050+8.06%
    5VT.SI
    0.425+0.030+7.59%
    5FD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.096-0.011-10.28%
    S13.SI
    0.315-0.025-7.35%
    O08.SI
    0.139-0.010-6.71%
    5GB.SI
    0.30-0.020-6.25%
    502.SI
    0.132-0.008-5.71%
    5BM.SI