Good PMI's came out this week and sent the Euro squeezing higher as all the shorts that were piling up at the got squeezed. We came just a few pips shy of the Dec. point of control.
I am expecting that we rotate lower to a 50% retrace and also test the Jan. point of control( ) before going up and pushing above the Dec. . Once we break above with conviction we should retest the Dec. from above and then use it to higher and explore some new highs. Now far and how long those new highs last is anybody's guess. We will have to see how price reacts once we get into new higher territory.
Market Profile: http://gyazo.com/7134e06d3a63c17b1e7fb9c7194a8d43