EURUSD

Whether it is the holiday season low volume or ongoing correction, it is tough work this. The price action continues to grind up hill, taking out a blue diagonal overnight (green arrow) and putting another red support line underneath. The FLD cloud has gone flat, so it looks and feels like a correction, but is no easier to trade in the knowledge.

I had counted the correction into the 1.3708 low as an expanding flat, due to the the larger 'a' wave going into the 1.38096 top from the previous waves. However, although the move up from there also seems to be corrective in 3 waves, the drop thus far does not seem to have been impulsive to usher in a 'C'. So either the 'B' wave is still in play, 'C' is beginning with a lacklustre 'a-b' although I don't like that explanation, maybe this is somehow turning into a larger triangle or the correction is over and it is just a slow grind up till the 1.3831 area is retested. Struggling I am! The 6 pip MMA wave is still bullish and price does not want to play underneath the daily pivot much at all, so any action is likely to take place from yesterday's highs, if it is to come. Any attempts to lose my longs in favour of shorts continue to fail, leaving me flat again as price keeps pushing into my cautious stops, so for now, going nowhere very slowly! Probably going to need Claims and FOMC to sort this out tomorrow.