Overall I'm still looking for a continuation lower as wave 3 of C is developing. Short term we are most likely in wave iv of 3 and should see a move higher towards resistance in the 1.1377 - 1.1391 zone. From this resistance-zone I expect wave e of the triangle to terminate and the next impulsive decline to take over for a break below 1,1193 towards the ideal target for wave 3 near 1,1055.
A break below 1,1236 confirms, that wave v of 3 is developing.
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