EUR/USD - In wave iii down?

The most obviouse count currently is, that we are in wave iii down. If red wave ii just ended? It fits the picture of red wave iii of (iii) of iii down as corrections tend to become small. One can easily make the case, that we have just seen red wave a of red wave ii, but for now lets keep it as simple as possible, as we are looking at the micro count, where options are multiple.



Brearish alternate count
The decline to 134.26 could also be wave (i) of iii down, which would call for a more time consuming wave (ii) and most likely also a move higher towards at least 134.90 and possibly even 136.24, before wave (iii) of iii down sets in.

The bullish alternate count

Is that wave D up isn't over jet, and the decline from 138.61 is only a correction. Looking at the two legs lower. The second leg was almost exactly the same length as the first leg lower at 134.26 (c=a at 134.24). That would make it a perfect zig-zag correction. This is not the favorit count, but an option we have to consider.