Here is how these 4 e-minis closed on the week:
As can be seen, they may indeed be on their way to this confluence zone...and/or their weekly 50sma (red).
Further to my posts on June 9 and May 29 on EUR/USD, price closed down on the week at the POC of the June Monthly TPO Profile and is backtesting the downtrend line (which has been in place since July 2008) for a second time since breaking out above it in May of this year as shown on the Weekly chart below. Price also closed just above the +1 deviation of a major downtrending regression channel. This appears to be an important support level and the action next week should be interesting.
"Every time I start thinking too much about how I look,
I just find a pub with a Happy Hour
and by the time I leave,
I look just fine."
Author--Anonymous
