The Euro made its new high today on the 17.2 frequency. We did not exceed the key resistance and if we now close lower, we should see a retest of support. A closing below 13180 will confirm a sell signal. The market volatility began on target so now watch the closing. Going into next week, volatility will remain high. We need to elect some definitive sell signals here to confirm the change in trend that the cycles indicate are possible for now.
Keep in mind that the markets are going to remain fairly choppy and indecisive until the ECM turns of August 7th. Then we have the German elections in September and everything should begin to trend.
