EUR could be at the top of a Larger Wave 3. If this is the case we could start to look for a correction. This will also be useful to know to help predict any trend changes is the EUR cross pairs.
For what it is worth - wave (4) of wave 3 doesn't usually overlap into wave 1. That would imply a very, very, very weak situation. I don't see what you have labeled going into the low of 2009, but I think it is essential that you know the bigger picture before assembling this count.
You have a valid point! So if we hit the 38.20% and it holds, then it would be the only situation where wave 4 will hold true. So, we could even have an extended wave 3 if this count were to remain the start of a true wave 3 pattern. Also if we draw an upward support line on the lows it does hit the 38.20% nicely. "Here I am searching for confirmation"... Now if this breakes down, Ill have to look for the ABC structure then?