Euro USD: Euro USD Currency Futures: Technical Update 3/4/10
Posted by: Richard Estrada // Category: Euro USD Futures
Currency day traders trading the Euro USD watched the market break through the bottom of a bear flag technical formation (see 60-minute chart below) and then watched the Euro USD Futures take out yesterday’s session low (1.3592). The question for currency traders day trading futures, specifically the Euro USD Futures is was the spike down a strategic move just to take out stops, or was this early down move a rekindling of the downward trend?
The 5-minute chart of the March 2010 Euro USD Currency Futures (see chart below) shows an area of concentrated volume between 1.3588 and 1.3608 (bottom green rectangle), which might be a good gauge of technical strength today.
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Tags: day trading futures, Euro Currency futures, Euro Futures, Euro USD