EURUSD: 2.04pm

I have attached a birds eye view of the intermediate 'D' lines. D4 has been our target all week because we 'cut' D3 and if it surpasses D4, then D5. The fact that D6 is way lower is an issue to me, because although D7 failed to put up significant resistance, thus far, D6 has not been returned to since its 'cut' in August 2012. D6 has been providing the 'topping' presence that has been guiding prices since the 1.3171 pivot high, but that channel between D4 & D7, looks like a very neat channel indeed to accomplish the D4 break to the upside and the D6 kiss goodbye (or otherwise of course). Counting this move up from 1.2659 as the wave 1 or 'A' wave would set us up very well for a deep wave 2 or 'B' wave but perhaps price will return on the other side of D4 down to a higher placed D6. What is quite clear however, is how D4 is the gateway to upside acceleration, so no shorting past that line for me. The second chart shows the shorter term 'D' lines and possible targets for my shorts; quite a neat stepping ladder if we go to 'D3'. We shall find out soon enough.