Forex Trading: Pending EUR/USD and EUR/AUD Longs

RELATED QUOTES

SymbolPriceChange
EURUSD=X1.3820+0.0002
EURAUD=X1.4881+0.0002

EURUSD Longs taken late yesterday were stopped out at breakeven (13275). The correction probably lasts the remainder of the week but levels that may produce a low are the 50% and 61.8% retracements of the rally from the 1/4 low at 13200 and 13150. The levels line up with former pivots as well. The former level is reinforced by former trendline support turned resistance (blue line on chart).

“The EURAUD decline from 12710 would consist of 2 equal legs at 12612 but Fibonacci retracements don’t begin until 12575 (38.2% of 12357-12710). The 50% at 12533 is reinforced by former resistance from the 1/8 high at 12529. Be picky…let the correction play out this week or take advantage of a sharp drop into 12529/75.” Currently at 12580, we may get an opportunity to buy weakness tonight or tomorrow on event risk out of Australia.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2567+0.0013+0.10%
    USDSGD=X
    1.7367+0.002+0.11%
    EURSGD=X
    2.1091+0.0025+0.12%
    GBPSGD=X
    81.5736-0.1003-0.12%
    SGDJPY=X
    6.1700-0.0056-0.09%
    SGDHKD=X
    2.5988-0.0023-0.09%
    SGDMYR=X
    9,255.6162-44.0684-0.47%
    SGDIDR=X
    4.9643-0.0044-0.09%
    SGDCNY=X
    1.1669+0.001+0.09%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,284.70+0.10+0.01%
    GCM14.CMX
    19.42-0.01-0.07%
    SIK14.CMX
    92.88+1.82+2.00%
    ^XAU
    3.060.00-0.07%
    HGK14.CMX
    101.53+0.09+0.09%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.71-0.03
    ^FVX
    2.69-0.04
    ^TNX
    3.47-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.122+0.002+1.67%
    B22.SI
    0.61+0.005+0.83%
    E5H.SI
    2.22+0.010+0.45%
    JS8.SI
    0.16+0.002+1.27%
    5GB.SI
    0.142-0.003-2.07%
    545.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.031+15.58%
    5UZ.SI
    0.22+0.020+10.00%
    D6U.SI
    0.184+0.014+8.24%
    5WD.SI
    0.275+0.020+7.84%
    5TP.SI
    0.161+0.011+7.33%
    A03.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.245-0.055-18.33%
    T18.SI
    0.196-0.024-10.91%
    5WR.SI
    0.161-0.019-10.56%
    T16.SI
    0.36-0.040-10.00%
    S24.SI
    0.098-0.010-9.26%
    C11.SI