EUR/USD - Still in wave iv or has wave v begun?

The upper resistance line of the red Pitchfork effectivly held the rise back yesterday. That

leaves us with two possibilities. The preferred count is, that wave v begun at 140.05 and it's evolving into an Ending diagonal. The rally from 140.05 to 141.49 is clealy in three waves and the only "impulsive" wave, that's allowed to be a combination of three waves is the Ending diagonal.

A break above 141.35 and more importantly 141.49, would add credence to this count, while a break above 142.20 confirms this count.

If however we are still in wave four (not preferred) the best fit seems to be a possible triangle forming. If this is the case we would most likely see a move towards 141.70 - 141.80 followed by a decline to towards the 140.80 - 140.90 area.

Only demand I have at this point is, that we at no point break below 138.68 as that would leave an overlap between wave i and iv, which is not allowed under the EWP.