I last left readers with this update…“until a break below 1.3747, there are numerous competing counts, including a triangle count as wave 4 within a diagonal from 1.2454. Bigger picture, I do expect weakness in the EURUSD but I’m not sure whether or not that decline occurs from here or after one more rally (above 1.4720).” Price action over the past week has failed to clarify the bigger picture. The EURUSD is approaching the top of its multi-month range in either a b wave (triangle or flat) or second wave. All 3 counts favor at least a short term turn lower.