FOREX Technical Analysis: EUR/USD Responds to 12770 Resistance

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.1180+0.002

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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
    1.4064-0.0023-0.16%
    USDSGD=X
    1.5724+0.0003+0.02%
    EURSGD=X
    2.0378-0.0047-0.23%
    GBPSGD=X
    82.9359-0.0732-0.09%
    SGDJPY=X
    5.5368+0.0102+0.19%
    SGDHKD=X
    2.9594+0.0058+0.20%
    SGDMYR=X
    9,695.1387+30.1982+0.31%
    SGDIDR=X
    4.6759+0.0078+0.17%
    SGDCNY=X
    0.9967-0.0006-0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,173.20+15.50+1.34%
    GCJ16.CMX
    14.98+0.21+1.40%
    SIH16.CMX
    55.30+2.68+5.09%
    ^XAU
    2.08-0.02-0.90%
    HGH16.CMX
    30.59-0.30-0.97%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.250.00
    ^FVX
    1.85-0.02
    ^TNX
    2.68-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.33+0.02+4.76%
    N21.SI
    3.70+0.22+6.32%
    Z74.SI
    1.68+0.05+3.07%
    MC0.SI
    0.385+0.010+2.67%
    E5H.SI
    0.705+0.025+3.68%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.405+0.065+19.12%
    T4B.SI
    0.475+0.075+18.75%
    Y06.SI
    0.23+0.03+15.00%
    S9B.SI
    0.40+0.05+14.29%
    BJE.SI
    0.144+0.014+10.77%
    AWS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.34-0.05-12.82%
    MN5.SI
    0.118-0.012-9.23%
    AWO.SI
    0.205-0.020-8.89%
    AYL.SI
    0.505-0.045-8.18%
    A05.SI
    0.193-0.017-8.10%
    S71.SI