June Euro currency futures a selling opportunity on more price weakness.
See on the daily bar chart for the June Euro currency futures that prices are in a steep four-week-old downtrend and have just recently hit a fresh 2.5-month low. The bears are in near-term technical command, which suggests the path of least resistance for prices will remain sideways to lower in the near term. A move below technical support at last week’s low of 1.2979 would become a fresh selling opportunity. The downside price objective would be 1.2500, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.3150.
