EURUSD: 6.35am

Yesterday saw the first push through D5, having previously pushed through D3 & D4 and D7. The passing of D7 back on the 15th November, brings D8 into the targets for price, but as of yet, the subsequent topping zones of D3,D4, and D6 have not been able to pull this move up from 1.2659 into a decent retracement. D5 is still holding out after yesterday's break and it has to be said that the price action has been decidedly corrective too, burning off some of the 60min SMI without too much pain for the bullish wave. D5 has also built itself a trough which signifies another possible target topping zone ahead and it is increasingly look like price is going to make a run for D8/D9 confluence before pulling back. D5 remains the gateway here. The position at the My-Grid wall is somewhat aggressive to say the least, but will price push on through, shimmy down it for a bit, or fail. Answers on a post card! Price is still above the daily pivot, and given the position above D5, I will be looking for breakouts over the orange D1/4 to go long again or if price manages to tag the daily pivot or maybe lower at T4 (at D1), a higher low down there. The daily to monthly my-wave is still in tact and as proved yesterday, the bears are not getting a look in at all at the moment.