We are in the very last part of the major rally from the 75.56 low. We saw a major triangle as wave 4 and triangles always tell us, that the next move in direction of the trend will be the last in that sequence.
Since the wave 4 low at 96.53 we have seen a nice five wave rally, which means all requirements for this rally is fulfilled and so are all requirements for the rally from the 75.56 low. That said, I expect minor support at 103.76 will protect the downside for one last rally in wave v of 5 higher towards 107.05. However a break below 103.76 is the first warning, that we already could have seen the top at 104.64 and a break below 103.19 will confirms the top and that a major correction towards at least 96.53 has begun.
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