Elliott Wave analysis of EUR/USD - One last rally to the top?

Just a quick update. I will update more later today.

EUR/USD - Has most likely ended minor wave iv of red wave Y and we should now see one last rally higher towards resistance in the 1.2872 - 1.2882 area. I expect the correction from 1.2042 to end there and red wave 5 to finally take over. That said we begin to consider more bullish alternatives and be prepared if we break above 1.3004. A break above 1.3004 will make and overlap between wave one and wave four, which is not allowed under the EWP and will tell us, that the decline from 1.3485 is not an impulsive rally, but instead part of a bigger corrective pattern. You can see some of the bullish alternate counts here: http://singulorum001.blogspot.dk/2012/09/eurusd-forex-elliott-wave-analysis-08th_8.html

I will explore the possibilities more in depth if we close in on the all important resistance at 1.3004.