EURUSD 9.57am

The T4 price envelope saw T6 at its upper echelons and yesterday I posted the price envelope for D6, which of course was at the centre of that one. When price was stuck in the '1-2, 1-2' (or was it 'A-B') earlier last week, I suggested that T6 had been left behind by T4, T5 and T7 and that as T7 was still climbing, it was more than likely price would go up to meet T6. The question of course is the same: is it T6 that needs to keep falling, with price rolling back under T4 & T5 bringing new energy to the attempt to turn T7; or is T7 leading and T4 & T5 that need to get above T6 to put everything back in sync? This bigger picture suggests that T7 is still the errant child in class: see how T11 down to T8 are all in order bar T7. Now look again at the first chart and see that if T4, T5 and T6 could get under T7, the obvious ripple has the chance of getting ironed out. As I asked last week, is T7 still leading uphill or is it T6 downhill? I don't think the market necessarily knows the answer but may enjoy attempting to answer that question and that is another reason I think we see another 'abc' in 'c' of 'B' downhill to test the 1.2041 low before going up in 'C' to complete 'E'. We shall see! Just follow the daily My-Wave....