EURUSD 10am

Looking at the 240min chart then, we see price has been held thus far above the 38.2% retracement of the 1.2041 to 1.3171 wave up, sitting on top of the 2month 'tide'. We have however completed a 100% extension of the initial move off 1.3171, so maybe the 'abc' B wave is the formation and is complete. We have certainly got some upward reaction going on right now, as I had been looking for, so we will have to see how matters move along from here. I am looking at the 4hr MACD's interaction with the 16hr and their zero-lines as price moves up here. We are firmly bedded in the bolly bands at present and the weekly 'tide' looks very aggressive. Note however, that the monthly does not. So is the weekly still leading, or is it going to get beaten back at least to the top of the bolly band to pick up the monthly tide? The purple trend line (T) moved sidewards and has acted as support for price action overnight/this morning but that 60min MACD is still in the sell zone without a zero-line check back in the bag. Got to bear that expanded flat maneuver in mind as we go along here. Again, the purple 16 line is the initial target zone as I covered yesterday. How price interacts with this will be key. If price moves through it rather than slide off its underside, then that green 32/blue 64 cluster looks attractive to the right. My-Wave is now under pressure as suggested earlier and now we shall see what the market has up its sleeve.