March Euro currency futures a selling opportunity on fresh price weakness.
See on the daily bar chart for the March Euro currency futures, traded at the Chicago Mercantile Exchange, that prices are in a five-week-old downtrend. A bearish double-top reversal pattern has also formed on the daily bar chart. The bears have the overall near-term technical advantage. A move in March Euro currency futures below technical support at Wednesday’s low of 1.2760 would become a fresh selling opportunity. The downside price objective would be 1.2400, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.2900.
