FOREX Technical Analysis: EUR/USD Responds to 12770 Resistance

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.3823+0.0007

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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
    1.2528+0.0005+0.04%
    USDSGD=X
    1.7318+0.0016+0.09%
    EURSGD=X
    2.1054+0.0013+0.06%
    GBPSGD=X
    81.8471+0.0648+0.08%
    SGDJPY=X
    6.1890-0.003-0.05%
    SGDHKD=X
    2.5946+0.009+0.35%
    SGDMYR=X
    9,136.3350+17.4727+0.19%
    SGDIDR=X
    4.9729+0.0025+0.05%
    SGDCNY=X
    1.1692+0.0004+0.04%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,287.80-6.10-0.47%
    GCM14.CMX
    19.36-0.23-1.18%
    SIK14.CMX
    90.18-0.65-0.72%
    ^XAU
    3.050.00+0.03%
    HGK14.CMX
    103.10-0.27-0.26%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.73+0.08
    ^FVX
    2.72+0.08
    ^TNX
    3.52+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.113-0.002-1.74%
    B22.SI
    0.135+0.010+8.00%
    545.SI
    2.190.0000.00%
    JS8.SI
    0.605-0.005-0.82%
    E5H.SI
    0.143+0.004+2.88%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.255+0.040+18.60%
    5UE.SI
    0.345+0.045+15.00%
    5DS.SI
    0.18+0.020+12.50%
    T16.SI
    0.19+0.016+9.20%
    540.SI
    0.138+0.011+8.66%
    J74.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.17-0.030-15.00%
    5WD.SI
    0.118-0.014-10.61%
    S71.SI
    0.123-0.013-9.56%
    5FI.SI
    0.20-0.020-9.09%
    D6U.SI
    0.29-0.025-7.94%
    O08.SI