December Euro currency (E6Z25) futures present a buying opportunity on more price strength.

See on the daily bar chart for the December Euro currency futures that prices are trending higher and have just hit a two-month high. Bulls have the firm near-term technical advantage.

Fundamentally, notions of a more dovish U.S. Federal Reserve monetary policy in the months ahead is Euro currency-bullish and U.S. dollar-bearish. The European Union economy is generally holding its own and the U.S. economy has shown some signs of weakness recently. That’s also Euro-bullish and greenback-bearish.

A move in the December Euro currency futures prices above chart resistance at Tuesday’s high of 1.1880 would become a buying opportunity. The upside price objective would be 1.2250, or above. Technical support, for which to place a protective sell stop just below, is located at last week’s low of 1.1717.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 

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