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TFC Commodity Trading Forum

June Euro/More New Lows *PIC*

The Euro broke important double bottom support being the Jan low of 126.5 and continues to selloff to new lows. Technicals are very oversold to extreme and showing positive divergences on some oscillators. A bounce back should see resistance at the breakdown point of 126.5. Note the Modified MACD defined the bearish downtrend last September and never could clear the 0 line. That is its main purpose, defining the major trend.