Hi everyone, hope you are all ok.

Let's get into it...

Weekly Chart is showing how a completed Wave B of (D) has, again, reached the %50 retracement of 

the 5 waves raised up to year 2015;

And,  after a quick raise in Wave C(red) to complete Wave (D), seems like another drop for Wave (E) should target 

the lower triangle trendline or possibly cross it, to complete this long term correction. 

A breakout of this long-term triangle, after the correction under the current count,

would suggest the beginning of the start of Wave (1) of a long-term raise.

(a drop across the %50 retracement would favor Alternate #1 count for an extended Wave (C) correction towards the %62)

Daily Chart is showing the current Wave (E) now on the way towards the lower trendline (blue) 

and possibly to cross it to lower support levels.

As per current count, expect the price to continue to drop in 5 waves to complete 

Wave (E) as an extended Flat correction (3,3,5).

(where Waves [a] and [b] are showing 3 waves and Wave [c] should be a 5 waves move)

4Hour Chart showing more in detail the internal waves of Wave [b] of (E) completed (in 5 and 3 waves respectively)

The Wave (i) down as the start of 5 waves also completed, as mentioned in the Daily Chart comments.

And now, the current Wave (ii) showing that could have been completed at the %50 retracement level.

Next expect the price to drop impulsively to confirm Wave (iii) has in deed started.

60Min Chart shows Wave (ii) reaching the %50 retracement level at 108.122 and the price reacting impulsively to the downside at that point:

An initial indication that Wave (iii) could have started its initial first internal wave.

Once Wave (ii) confirms to be completed, Wave (iii) should continue bringing the price impulsively to the downside

breaking through support levels and EMAs for the start of the new trend.

At the moment Wave (iii) could have formed its internal Wave i and Wave ii completed at its %50 retracement;

So watch for impulsive waves down to break through previous lows to confirm Wave iii.

Weekly Chart, under the current interpretation,

 shows a Wave 2(red) crossing slightly over the %62 retracement of Wave 1(red)

and now an extended Wave [ii] pretty much confirmed to be completed (judging by the recent candles)

at the 200EMA and %85 retracement of Wave [i] of Wave 3(red).

Notice the Alternate counts #1 & #2 for alternatives more extensive corrections of Wave 1 (red) and 

long-term Wave [b] respectively to have in mind.

Daily Chart is showing Wave [ii] made an extended correction

and retracing over the %85 retracement level, as the top of the current range formation.

Further impulsive waves down will give more weight to the current count for Wave [iii] start,

and, hence, a start for a long move to the downside.

4Hour Chart is showing a Wave 1(blue) and Wave 2(blue) of Wave (i) of Wave [iii] possibly completed,

Wave 1(blue) which pierced through the 50EMA and found support at 1.12107 but 

could also be interpreted as completed at 1.11654.

(Where Wave 2(blue) correction retraced %62 back towards the earlier wedge formation)

And now Wave 3(blue) could be developing its initial first internal waves (i) and (ii).

Next, once Wave (ii) correction is confirmed completed, we should expect Wave (iii) of Wave 3(blue) to continue 

bringing the price lower across the 200EMA and previous support levels, towards the lower trend channel (blue).

60Min Chart is showing the internal Waves of Wave 1(blue) and 2(blue) possibly completed.

Then the hint of the start of Wave 3(blue) with a leading diagonal Wave (i) and a spike that could be interpreted as Wave (ii) completed, although there is also a possibility of this correction to extend further before Wave (iii) starts.

Next, once Wave(ii) confirms completed..... further moves would show Wave (iii) of Wave 3(blue) moving down impulsively, and a cross from the next level of support at 1.11660 area.

Weekly chart shows Wave 1(red) and a Wave 2(red) correction completed at the 200EMA level with a retracement 

between %50 and %62 level.

From there the price showed an impulsive move down that was rejected by the lower trendline;

A move that suggest the initial waves of Wave [i] of Wave 3(red) starting to develop.

Note Alternate #1 for a possible larger Wave (4) developing.

Daily Chart is showing the current corrective move like an odd lengthy Wave (iv) correction

that has now reached, and passed slightly the %76 retracement of Wave (iii);

(1.28900 area remains this count's Invalidation level - As the lowest of Wave (i)).

Next, we should expect, the price to continue the moves down impulsively on Wave (v) towards the lower trendline.

(otherwise the Alternate count #1 would be triggered)

4Hour Chart shows Wave (iv) completed and developed a channel to the downside.

While developing the first internal Waves 1(blue) and 2(blue), there has been a Head & Shoulder

formation that has brought the price lower into Wave 3(blue).

After Wave 3(blue) completion there was a raise for corrective Wave 4(blue) and Wave 5(blue) seem to have completed

Wave i at 1.22499.

Corrective Wave ii could have been completed now in a quick rally to the upper trend range(blue) at %50 retracement

of Wave i, after developing a Divergence setup in MACD and Stochastics.

So next, expect the price to drop to form 5 waves for Wave iii

60Min Chart just shows more in detailed the trend channel (blue) where Wave ii could have now topped up and Wave iii could start now make the impulsive moves to the downside (a break of the 200EMA down would enforce this idea.

All the best for everyone and please do not hesitate to contact me if you have any questions or comments.

Andres