June Euro currency futures a selling opportunity on fresh price weakness.
See on the daily bar chart for the June Euro currency futures that prices are still in a three-week-old downtrend and last Friday hit a four-week low and closed at a bearish weekly low close. Prices have seen a short-covering bounce this week. However, a drop below chart support at Tuesday’s low of
1.3735 would give the bears fresh downside near-term technical momentum and it would also become a selling opportunity. The downside price objective would be 1.3500, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.3818.
