The Euro currency futures market is seeing an accelerating price downtrend on the daily bar chart and late this week hit a new contract low. Bears are in solid near-term technical control and there are no signs of a market bottom being close at hand. Importantly for all you currency traders: Remember that trends in the currency markets tend to be stronger and longer-lasting than price trends in other markets. So just because the Euro has been pounded down hard recently, that does not mean more solid selling pressure is less likely. Stay tuned!–Jim
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