The euro gave up its gains last week from the previous week. That being said, the market looks as if it is trying to form some type of base near the 1.13 level, and I anticipate that we will see more of the same as the market simply has nowhere to be. Keep in mind that this pair is trying to break out, so if we can get a daily close above the 1.14 level, that might be bullish enough to send this market looking towards the 1.15 handle, followed by the more important 1.16 level where we had broken down from. Below 1.12 opens up the door to 1.10 underneath.