December Euro Currency Futures Another Selling Opportunity on More Price Weakness
See on the daily bar chart for December Euro currency futures that prices remain in a strong downtrend and last week hit a contract and 14-month low. The bears continue to have the solid overall near-term technical advantage. History shows that trends in currency markets tend to be stronger and longer-lasting those those in other market sectors. A move in the December Euro currency below chart support at this Monday’s low of 1.2670 would become another selling opportunity. The downside price objective would be 1.22500 or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.2900.
