The futures have bottomed Sunday precisely two ticks from where they ought to have (see chart), so traders should come to the task with a cautiously bullish bias. Seekers of camouflage should try the five-minute chart, which as of around 1:10 a.m. Sunday was creating untradable, ‘dueling’ impulse legs. There was nonetheless a more speculative opportunity in prospect if the futures were to fall to 1.4342 — a minor midpoint support — without having exceeded 1.4369 (aka ‘c’) to the upside first. _______ UPDATE (8:47 a.m. EDT): The futures have breached Hidden Pivot support overnight and appear headed toward the conventional, “structural” support afforded by the 1.4222 low recorded on April 7. _______ FURTHER UPDATE (1:47 p.m. EDT): The June Euro has been the slave of Hidden Pivots lately days, having taken another leg down to within a single tick of the ‘d’ of this pattern (30m): A=1.4482 (April 15, 3:30 a.m.); B=1.4280, C=1.4338. If the futures should fall anew, try bottom-fishing at 1.4093 (A=1.4482, B=1.4243, etcetera…) with a very tight stop-loss.
