EUR/USD - Still working on red wave (iii)?

My short term preferred count is, that we are still working on red wave (iii), which should take us down to the 138.02-138.13 area, when purple wave (iv) is done (see the zoomed chart below).
I would expect resistance in the 140.62-140.76 area to turn us down in purple wave v. What counts in favor of this only being purple wave iv of red wave (iii)? We don't have any divergence at my indicator or the MACD, which tells us, that we are still working on red wave (iii) down.

A minor warning should be appropriate as we counting sub-waves, which is always difficult and flexibility is needed.