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EUR/USD: Only a wave 4 retracement?

FX_IDC:EURUSD   Fx Euro/Dolar U.S
85 0 2
On lower TF it seems we completed 5 waves..., but on this TF it seems that those 5 waves might have only been a larger degree wave 3 leaving wave 4 (which we might be in now) and another bearish wave 5 following after that...

Where cuold wave 4 end (if it is in fact a wave 4...)?
Based on this TF I'd say most likely at the MA/down channel confluence.
On the daily there's are also some things to watch (see related idea)...

1.10 to 1.11 looks like a good zone to watch..., Maybe in 2-3 weeks if we continue up, then also the upper BB boundary might be at about that level...
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