EURUSD: 9.19am

Monday mornings!! Nothing broken in my weekend summary although pushing my stops for sure overnight. Quick overview before we get going today.

This is the My-Grid from the 1.6037 high. First attack at that perimeter wall, got knocked back but next time should seal the deal (or not!). See how the monthly My-Wave remains bullish.

The Hurst Cycles study I am running suggests we are coming into that 20week low pretty much as forecasted weeks ago. The numbers are not EW counts but interactions with D6 - the red line.

We are low into the T4 price envelope with T4 now sat at approximately 1.3075. Price has been taking a very good look at the 1.2878 Gann line and SMI's would support a return to T4 as an initial target. Do note how T5, T6 & T7 have all been backtested here, with a push above T4 likely to pull all of these into a bullish stack.

The Daily My-Wave now looks properly formed, albeit without a lower low there. A break above the daily pivot and the orange D1/4 should get this wave going up after all the backchecking of the Gann line.

That D1, D3 & D5 cluster looks a good start at 1.3000 area which was my target from Friday and if it takes that down, an acceleration to D2 at least and into the T4 area. New white My-Grid levels for the move down from 1.3126. If it does not hold, the line above should be on at 1.3250. The red channel is drawn off the stab up Friday, which thus far is holding that low. Onwards and upwards but 1.3000 first will be fine for me today.