December Euro currency futures a selling opportunity on more price weakness.
See on the daily bar chart for the December Euro currency futures, traded at the Chicago Mercantile Exchange, that prices have been trending lower for the past three weeks. See, too, that the shorter-term moving averages I follow (9- and 18-day) have just recently produced a bearish line crossover signal, whereby the 9-day crossed below the 18-day moving average. The Euro currency bears have gained some fresh downside near-term technical momentum recently, and would gain more by pushing prices below solid chart support at this week’s low of 1.2833. That would also become a fresh selling opportunity. The downside price objective would be 1.2450, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.3000.
