Euro Monthly and WeeklyLast Week of trading until the end of the year and i'm not expecting too much to happen next week.
The euro will certainly drop once the union starts cutting rates, but in the mean time we have to analyse the price action with next Quarterly 50% level.
A Set-up :- remains above the monthly 50% levels and follow a 2- month pattern upwards, based on the cross-over of the December 50% level towards January's highs.
B Set-up:- 4th Quarter 50% level stalls the market the previous week, and then the first Quarter 50% level begins to push the Euro back down towards the Janaury lows.
We should get a better idea by the close next week.
Next Week:- in the short term have to judge the market based on the Weekly 50% levels.
As mentioned I'm not expecting much to happen except another consolidating 5-day pattern.
