EURUSD: 12.07pm

Price has pushed cleanly through the daily My-Wave but first stage is for that My-Wave to turn over; so expect some consolidation at that point, although it could be a flattish wave 2 in this first move up, given the pent up demand in the ending diagonal. In Bayer's 'Egg of Columbus' he describes the ED as both 'tongue' and Hors d'oeuvres, as the beginnings of the new cycle are to be found in the entrails of the old and the market needs to separate out the two before moving along. We are already at D1, but with D2 so close, I am looking for that also to be breached and to hold; this should ensure a move to D3 at the least for the next course. The red dash to the left is that amount of the ED I forgo to be ready for this punch; the other lost asset was of course time which bothers me more! Moving up to the next Gann line at 1.2878 (which is where D3 sits)would not only bring into play T5, but also the possible 'A-B' trend of this C wave, with D5 sitting higher at the A-B line of the whole correction from 1.3171. Let us see what the market makes of it!