The Euro currency bulls gained some upside momentum last week by pushing prices above and negating a downtrend line. Prices have backed off a bit from last week’s high on a normal corrective pullback. This week’s price action will be extra important for the Euro. If Euro prices can add to last week’s upside action, then technical odds would be good that a near-term price uptrend can be sustained into the end of the year, and even beyond. Downside price action in the Euro this week would then suggest sideways-to-lower price movement in the coming weeks. Stay tuned!–Jim
