Euro Monthly and WeeklyLast Friday closed above the Monthly 50% level resulting in the rally towards December's highs and the Quarterly 50% level.
The set-up that I was looking for was a retest of the Weekly 50% level before the market continued higher, which didn't play out.
Next Week:- major resistance has hit....
When the European union starts cutting rates in the new year the Euro will be hit, which will be based on the next Quarterly 50% level and into new lows.
In the mean time I would look for a 2 week consolidation pattern between this week's highs and December 50% level until January....
Daily report out on Monday
