EURUSD

 Back long this morning. Pricehas made its 75day low and is not due its 100 day low till 21st August. MFI suggests volume could break up here on daily chart in support of momentum study.

 Price has been playing around the gold 100 day FLD and is sat above the 75day/100day trend band. MFI appears to have taken a tumble in yesterday's falls and along with the momentum study, suggests a 'b' wave has been had. Targets for longs is the bolly cluster above and the red 50day FLD peak.

 This is my EW count thus far for the move out of the 75day low. Maybe the last 'b' is not over but the gradually rising MFI supports the breakout from chart one and gives background texture to the fall in the MFi in chart 2. The 1hr momentum study needs to turn up to confirm, but I am looking for it.

 Price appears to have tested the 60min bolly band which is my entry zone, cut through a trend line down from the top of yesterday's move and has oversold momentum studies. Add in the positive divergence on the MFI and a rise to the daily pivot should provide cover for any stops on my longs in due course in short order. Other than the shortest Hurst Cycle, the trend band is all bullish here at the moment.

Extended 1-3 day trend lines and a bounce out of the combined 15min and 60 min bolly's has me long with a stop under the low, as an exhaustion play out of a 'b' wave. 10 pips risked to get in. Might have to re-enter on a spike lower but worth ago I reckon.