Euro Currency Futures Soar Amid Inflation Worries

The recent Federal Reserve FOMC meeting has had a bearish effect on the greenback, according to market analysts.

This is because investors are worried that the Fed may be behind the curve in fighting inflation. As a result, the Euro currency (E6Z26) futures have presented a buying opportunity due to its price strength.

The daily bar chart for December Euro currency futures shows a bullish upside 'breakout' from a basing area at lower price levels. Additionally, the moving average convergence divergence (MACD) indicator is in a bullish posture with a line crossover signal that occurred in early July.

A move above this week's high of 1.1597 would become a buying opportunity for the December Euro currency futures. Technical support is located at 1.1470, and investors are advised to place a protective sell stop just below this level.