EURUSD

If the expanded flat count is correct in the intraday chart, then we are pretty much at 262% of 'a-b' here and now. This 1.34853 line is also last year's high (again) which is proving formidable - see last post for Gann Grid. Good place to start a leg up me thinks - lets see if we get one.

On the hourly chart, the momentum study shows a usual suspect formation for a 'b' wave and that fits my thinking and count that we are in a wave 4, trying to get across the regression channel, maybe up to the 38.2% of wave 3 at 1.35720 or higher. Price is laying down over the median of the channel at present and will hopefully make it across before descending again to test the low. The thick pink line shows the eventual route up to the peak of the 20day FLD, which will increasingly become magnetic as we pass under its roof. It does not matter to me at this stage that we may already be in a move up to test the high, as long as I am in the right direction for now.