FOREX Technical Analysis: EUR/USD Responds to 12770 Resistance

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SymbolPriceChange
EURUSD=X1.1184+0.0001

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FOREX_Technical_Analysis_EURUSD_Responds_to_12770_Resistance_body_eurusd.png, FOREX Technical Analysis: EUR/USD Responds to 12770 Resistance

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: Monthly opening range implications are bearish EUR/USD with the high occurring on day 1 of the month. Today’s rally reversed after piercing 12770 (JS Thrust close from 11/7). The structure of the rally from 12661 isn’t particularly clean from a structural standpoint.

FOREX Trading Strategy: The larger trend is down against 12981 but reward/risk isn’t favorable at this point. A move above 12800 would warrant action on the short side (12824 in particular). 12685-12705 is potential support before the low. Weakness below 12660 would open up the 50% retracement at 12606.

LEVELS: 12607 12651 12682127801282512882

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3652+0.0021+0.16%
    USDSGD=X
    1.5269+0.0027+0.17%
    EURSGD=X
    2.0970-0.0052-0.25%
    GBPSGD=X
    87.9583+0.1474+0.17%
    SGDJPY=X
    5.6810-0.0078-0.14%
    SGDHKD=X
    2.6572+0.0043+0.16%
    SGDMYR=X
    9,516.9414-11.3428-0.12%
    SGDIDR=X
    4.5940-0.0023-0.05%
    SGDCNY=X
    1.0619-0.0018-0.17%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,207.50-5.60-0.46%
    GCJ15.CMX
    16.50-0.06-0.35%
    SIK15.CMX
    75.99-0.94-1.22%
    ^XAU
    2.70+0.01+0.28%
    HGK15.CMX
    50.37+0.61+1.23%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56+0.06
    ^FVX
    2.06+0.06
    ^TNX
    2.66+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.945-0.030-3.08%
    N21.SI
    0.400.00-1.23%
    E5H.SI
    0.280.000.00%
    5WA.SI
    0.975-0.010-1.02%
    G13.SI
    4.24+0.02+0.47%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.184+0.072+64.29%
    A59.SI
    0.225+0.035+18.42%
    5WD.SI
    0.142+0.020+16.39%
    5IF.SI
    0.34+0.04+13.33%
    543.SI
    0.445+0.045+11.25%
    5FQ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.117-0.148-55.85%
    F3V.SI
    0.385-0.095-19.79%
    A7S.SI
    0.345-0.085-19.77%
    T4B.SI
    0.30-0.05-14.29%
    Y06.SI
    0.12-0.02-13.04%
    T77.SI