March Euro currency futures a selling opportunity on price weakness.
See on the daily bar chart for the March Euro currency futures that prices are trending higher at present, but are moving up against strong technical resistance at the October high. See, too, that the Slow Stochastics indicator is well into overbought territory (above 80.00). If the Euro does back off from its present high, it could be that a bearish double-top reversal pattern could also form. A move below 1.3650 would provide the bears with some fresh downside technical momentum, and it would also become a selling opportunity. The downside price objective would be 1.3200, or below. Technical resistance, for which to place a protective buy stop just above, is located at the October high of 1.3834.
