The September Euro looks like it will be trading a penny lower before it summons the energy for a dead-cat bounce. The elongated C-D segment leaves something to be desired aesthetically, but it should serve nonetheless to provide us with a decent place to go bottom-fishing. Camouflage is a must in this case, and so I’ll suggest looking for it on the lesser charts if and when the decline hits 1.2242. That’s 17 ticks above the actual Hidden Pivot support, but there’s nothing to lose by being alert to a possible turn at that point. _______ UPDATE (July 12, 1:05 a.m. EDT): The futures have made a fragile bottom three ticks from the 1.2225 Hidden Pivot implied above. There have been no handholds on the lesser charts for a camo entry, so I’ll assume nothing done. However, if you used my target to buy near the low on your own initiative, I’d suggest taking off half the position at current levels of around 1.2253 and stopping the rest so that no loss is possible. Please note that bulls won’t be in the clear until such time as this vehicle leaps the 1.2295 ‘external’ peak made yesterday on the way down.
