Next wave is crucial, and the one after that. If we get a corrective structure, that would hint to prices breaking 1.1330 level, medium term trend should still be down, and 1.1230 level will probably be broken. If, on the other hand, we get a small degree impulse - correction sequence, it would mean that 1.1450 will be broken on the upside, with further potential higher. Blue should not be broken if trend is still down.
Euro is showing significant positive correlation with the stock market. If there is year end rally, EURUSD will go up.