EURUSD

Looks like 5 waves in that diagonal to me. Will it bother escaping tonight?

 Notwithstanding the bigger picture count (albeit I am bullish) price is still shuffling down the left hand side of the regression channel from the top. Price can not escape out of the right of the channel when it is on the left. Common sense suggests, price needs to move right and that involves a change in both momentum and direction. A return to the 61.8% line at 1.3615 would get price over to the right hand side perimeter, probably in a 4th wave zigzag, before the final leg down, hopefully keeping over to the right.

Following an online dialogue with Aerocom over on Daily FX, the count shown looks a real possibility. The current 'i-ii' is a fractal of the prior waves in this move up from 1.27541 with irregular flats disguising progress uphill. I have to say the current irregular flat looks a tall order but it does work. As I wrote last weekend, we are looking for a way for momentum to nest in that sub chart and that is not going to happen with 'darts down' without corrections to bed it in. So, up in a wave 4 within the ''C' wave of ii' and then 'wave v' down. I have put the 2.62x extension of the proposed 'a-b' at 1.3416, but hope for that to be the target after a ride up for me to cover my longs higher up the page.