Positioning for the next wave down in EURO

Two scenarios most likely, with both having the same ending... next leg down takes us below 1.3434. The only real question right now is, which one will play out?

The alternate is a real close call. so as not to be fooled by the 5 wave impulsive looking move down on the 5 min charts, the (b) leg down could be an expanded flat.

If the alternate is in play, we could head up to resistance near 1.3624. If we get there, an even better opportunity will present itself. We'll know soon enough, and I won't be waiting too long...