EURUSD Breakout Potential

[B]My picks:[/B] flat for now, possible EURUSD breakout trade tomorrow
[B]Expertise:[/B] Technical
[B]Average Time Frame of Trades:[/B]

There are no trade opportunities in the Yen as there competing counts as price is between 93.50 and 99.00. The triangle continues to play out but there is an alternate bearish count in which the drop from 101.50 is a series of 1st and 2nd waves.

Regarding the EURUSD, odds favor the count that the rally from 1.3750 is wave 5 of an ending diagonal from 1.2454. The bearish count is not completely eliminated as no rules have been broken but its prospects are damaged given the time taken up by what would be wave ii. Price ideally remains above 1.40 on its way to a break above 1.4340 and eventually 1.4720.