EURUSD: 7.44am

Price broke through the 50 period FLD on the longer range bar study I am using and as suggested yesterday, there was a thrust with this. There is immediately a trough pulling price down but price action overnight does not suggest this move up is over.

 The count I was using yesterday called for another leg up and we seem to be getting that, with the 50% retracement line attacked full on last night and quite possibly, the 61.8% yet to come. This would cooincide with the a=c count and the time equivalency of the drop to rise ratio - see red dashed line.

Price also thrusted up into the 162% extension of the initial 'A-B' of the low, but still the monthly pivot and 61.8% retracement are within 50 pips of that and would make for a 'all boxes ticked' symmetry.

 So, if this possible 4th wave down holds above 1.3520, being the proposed wave 1 of this move up from yesterday, I am net long into 1.3620 area, looking to lose longs altogether if safe to do so and add to shorts.