I'm still in the favor of the triangle scenario as long as support at 126.43 and more importantly support at 124.87 protects the downside. Ideally the c-leg of the triangle is at its terminating point and we will see a break above minor resistance at 128.09 soon, which will confirm that the d-leg of the triangle is unfolding for a move higher towards 129.89. Only a clear break below support at 126.43 and acceleration of the price-action towards the downside will indicate, that we already have seen the top of wave 5 and (1) at 131.12 and that wave (2) is unfolding towards at least 118.73.
We could have seen the bottom of wave c of ii at 1.5236, but to confirm that we need a break above 1.5361 and more importantly a break above 1.5395, which will confirm a continuation higher towards 1.5569 and higher. At this point only a break below 1.5255 will indicate that wave c of ii still is ongoing and that we should expect more downside price-action towards 1.5188. However if we have not seen the bottom already we soon will.
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