EURUSD

I have manflu unfortunately, so not too much today. I have rejigged the square root regression chart onto a 6 hour time frame to provide a closer viewpoint, but still using the 1.20411 pivot as base camp. Target if current low holds is 1.3890, the next 22.5degree line up from where we are now. Note the cloud (not ichimoku) is still bullish and in tact, with price reaching over to it is recent sessions and bouncing, whilst holding the 1.37433 degree line. There is plenty of room into the roof of the regression channel from the 1.3294 low for price to grow into.

Looking closer in at the MMA wave action on this 12 pip range bar study and we can see that the recent move looks corrective and has not managed to turn the wave at all. Looks like a wave 4 pinch, so working on trying to see 5 smaller degree waves up into the roof of this nearer term regression channel.

As far as the count is concerned, working on that being wave 4 in either wave iii of 3 or 'C'. Hopefully a thrust up and ending diagonal to work with before moving into wave 4 and range trading resumes.