June Euro currency futures a buying opportunity on more price strength.
See on the daily bar chart for the June Euro currency futures, traded at the Chicago Mercantile Exchange, that prices have made a good rebound from the April low, including negating a steep downtrend line. See, too, that the Moving Average Convergence Divergence (MACD) indicator has just recently produced a bullish line crossover signal, whereby the thick blue MACD line crossed above the thin red “trigger” line. The Euro currency bulls have gained fresh upside technical momentum recently and would gain more by pushing prices above technical resistance at Wednesday’s high of 1.3128. That would also become a buying opportunity. The upside price objective would be 1.3550, or above. Technical support, for which to place a protective sell stop just below, is located at 1.2900.
