The June Eurocurrency posted pivot highs of the April 15 and May 3rd reversal swing dates. Both dates marked the end of the corrective bounce and triggered a bearish reversal, followed by a lower market. The euro also posted a 570 point rally, during the two session following the May 6th reversal date. Since then, the euro has dropped to a new low and reached the up-sloping reaction line target objective,on the May 19th reversal date. The market has completed a full cycle, with time and price coming together on May 19th. The euro rebounded off the reaction line suggesting the downward pressure may be over soon and could set up a possible bullish reversal pattern. For undated trade signals check out the TMV Swing Trade report.
