This chart was from the weekend report (right side of blog page), covered 3 options for price action for the week. I discussed the phasing aspects leaning towards a pull back and although not to the extent hoped for, we have had one, which may or may not be over. Given that this aspect needs a solid test (was this move down 'a' or all of the retrace?) I am now net long and hoping for a new high nearer 1.3908, to unload longs and position short again when safer to do so, for the longer journey downhill.
Price did cut the 10day FLD last night and is now bouncing at the half way point (pyrapoint 1.36882) of my initial downside target of 1.36152. But with positive divergence on the momentum study and an EW count that suggests upside is likely, I would not be surprised if this 10day FLD is recaptured, if not firmly tested, along with the red 5day FLD above. This is where the "is it a 'b' up or bigger" conversation will be decided me thinks.
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