This leads me to suspect that the greater 4th wave in EURUSD will still develop as a contracting triangle. The hypothesis right now is that wave C of it will end near the 1.16086 level, then be retraced three quarters or more by a wave D down (a three-wave zigzag , most likely), then a wave E up (three waves or a triangle in itself) followed by a resumption to the downward trend in wave 5 toward parity. Once we have waves C and D in place, the post-triangle thrust for wave 5 can be estimated.

This leads me to suspect that the greater 4th wave in EURUSD will still develop as a contracting triangle. The hypothesis right now is that wave C of it will end near the 1.16086 level, then be retraced three quarters or more by a wave D down (a three-wave zigzag , most likely), then a wave E up (three waves or a triangle in itself) followed by a resumption to the downward trend in wave 5 toward parity. Once we have waves C and D in place, the post-triangle thrust for wave 5 can be estimated.

After that, I suspect that the final 5th wave thrust from the larger triangle is going to end up not rallying much above the green horizontal.