Longer term I am still very on the EURUSD , you can check my general view on previously published chart at this link:- . However in the short term the price action are difficult to anticipated. Nevertheless EURUSD has retraced little more that 38.2% of the July 1012 low to Feb 2013 high and is at Jan & Feb 2012 support level. On Hourly has potential divergence developing and is in final swing down to reflect the structure of the wave (a) labeled on my chart which has 5 swings. If so I would expect either the end of the correction and new uptrend to resume or more sideways congestion in which case at least 50% retracement to 1.3450 could be anticipated. This might also be in sync with the possible top in the Dollar Index see chart below.
Thanks for taking the time to view the chart and agreeing with the analysis. The exact level you suggest might also prove true. I mentioned 1.30 area as it has few Fib confluence and possible reaction at what what support in Jan/Feb 2012 and round number as added reasons. But the actual level each trader can workout based on the live data. But glad you agree.
Whilst your count looks probable, I am having difficulties in fully counting the minor 5 waves within your label i of the low B. and then to clearly identify 5 waves within wave iii. So only time will tell if they are correct. I would rather wait for confirmation of what you think is complete 5 waves and then possible abc retracement of some sort, to look for going long as it will be wave "c" or wave "3". But much also depends on the overall time frma e of your intended trade.
Since publishing the above chart, the EURUSD has mostly traveled since ways with each successive decline only able to make minor lower lows on 60 Min chart. Overall I still expect it to bottom soon. Here is an update using Daily chart (also in long term view of EUR published since). This suggest that there are several reasons that both structure and momentum divergence buidling which should at least provide a bounce from curent level to 1.29 perhaps.