The next big move is most likely down for the EURUSD but it is unclear whether or not the pair will test resistance from the 61.8% retracement of the decline from 1.4723 prior to declining. As mentioned in recent days, the longer term trend is still viewed as down since the decline from 1.4723 is an impulse. The count that I am presenting today is one possibility. Under this count, wave iv within the impulsive decline from 1.4723 was a triangle that led to wave 5 as a terminal thrust. Wave 2 then would be unfolding as an expanded flat. In flats, c waves are impulses (5 waves). A push above 1.3742 would make the advance from 1.2454 an impulse. In summary, a rally above 1.3742 would present an opportunity go short.