EURUSD: 7.56am

Price still engaging with the grid wall which is at the very least validating my approach to building these. As such, the creation of that gold dashed potential grid line above is still on my mind - see weekend Line in the Sky Report. This is the cleanest chart this morning to look at matters - price seems to be honouring the D1 & D2 troughs which suggest topping zones if price has previously cut them, which it did. D3 is already having an impact, as the blue dotted line comes into view. This is all starting to look like my favoured situation from yesterday, that having cut D7 in the bigger picture, it is going to lay down over the top of it in a bigger corrective phase. This will also be underneath that grid line from the first chart. Just following this morning and keep an eye on those SMIs - I need a retracement either way that sees the hourly cluster overbought or oversold with a higher low or lower high to play off. At the moment, no play but that Gann line at 1.2736 looks a good starting point.