FOREX Technical Analysis: EUR/USD Responds to 12770 Resistance

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.0930-0.0048

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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
    1.3753+0.0062+0.46%
    USDSGD=X
    1.5036+0.0006+0.04%
    EURSGD=X
    2.1455+0.0097+0.45%
    GBPSGD=X
    90.2823-0.2878-0.32%
    SGDJPY=X
    5.6377-0.0243-0.43%
    SGDHKD=X
    2.7840-0.0018-0.06%
    SGDMYR=X
    9,828.5479-25.0029-0.25%
    SGDIDR=X
    4.5160-0.0187-0.41%
    SGDCNY=X
    1.0026+0.0045+0.45%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,087.40-5.50-0.50%
    GCV15.CMX
    14.75-0.04-0.28%
    SIZ15.CMX
    46.64-1.73-3.57%
    ^XAU
    2.40-0.02-0.99%
    HGG16.CMX
    48.47-0.32-0.66%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.62+0.01
    ^FVX
    2.27-0.01
    ^TNX
    2.95-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.52-0.07-11.86%
    N21.SI
    0.320.00-1.54%
    E5H.SI
    0.139+0.003+2.21%
    5DN.SI
    0.310.00-1.59%
    5WA.SI
    0.915+0.035+3.98%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.199+0.049+32.67%
    5MQ.SI
    0.45+0.09+25.00%
    K1Q.SI
    0.65+0.09+16.07%
    L5I.SI
    0.295+0.035+13.46%
    PA3.SI
    0.445+0.050+12.66%
    42C.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.38-0.11-22.45%
    AZT.SI
    0.128-0.018-12.33%
    5TJ.SI
    0.52-0.07-11.86%
    N21.SI
    0.16-0.02-11.11%
    AVX.SI
    0.39-0.05-10.34%
    5I3.SI