EUR/USD - Made it first time but...

The above bearish count is the only possible count, if the picture is still bearish for EUR/USD. It the very difficulte to maintaine the bearish count as wave (ii) (black) became way to high and now red wave (ii) has retaced almost all of red wave (i). This is allowed under the EWP and is why I will keep the bearish count as slightly favored and look for a break below 136.81 and more importantly 136.32 to ´confirm this count. But a break above 137.31 and the bearish count is buried instantly and the bullish count (see below) becomes the favorite count.

Also notice the Invers Shoulder/Head/Shoulder bottom formed since early February, which will be triggered if 137.31 is broken. The target for this formation will be 140.37.