September Euro Currency Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for the June Euro currency futures that price action late last week took a dramatic turn in favor of the bears. Price action last Thursday scored a big and bearish “key reversal” down, which is a clue that a market top is in place. Prices on Friday showed follow-through selling pressure to give the bears even better downside technical momentum. A close below chart support at last week’s low of 1.3744 would 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 1.3850.
