EURUSD: 1.23pm

Price action would seem to have moved along somewhat. Much better when it is moving and not basing! The 85.4% fib fan of the 'a' wave of that move down from 1.3126 is the green dashed line slicing through the red channel of its opposite number for the bulls. That green dashed line is also at the next blue fib fan parallel of the 'a' wave up from 1.2659, that battered price back into a retracement Friday after the stab up. Seems to me, that there is likely to be some acceleration again after that is beaten (if beaten!), maybe sufficient to punch right through the D1/D3/D5 confluence that might end up being a wave 4 consolidation zone for this move up, with a push to D2 as wave 5. If we get to D2, we will also have beaten that white My-grid line and I think that will seal the count for me to the upside. First things first though; lets stay above the daily pivot and get past that 1.2941 Gann line.