I could be wrong, however I do not subscribe to that view. From my chart, which, I have posted many times in the past with only minors changes in overall analysis, I think we are in longer term cycle for EURUSD . Based on measured move I have been of the opinion that EUR would at least reach 1.44 area before we have any significant retracement. In addition the price action since October 2013 noted above which many are interpreting as is in fact a running flat. If correct then we are in new cycle leg up with 1.44 as the potential target. Secondly, We have broken above the February 2013 high and seems to have just retested as support and have moved up strongly, completing minor 5 waves making larger wave 1. So short term retracement starting from opening for this week is possible but should revert to the upside.
As far as I know, the only typ of correction that can make a new high above wave a (or 1 or 3 for that matter) is a flat.
Within a WXY(Z) you could have a wave w, y or z as a flat, but that would mean that wave b(within wave w) should be label as the new high,
and wave c of w should be the low.
Or is this complex correction within wave b, and not wave (b)? That would make more sense, but the labelling is a bit confusing :)
In that case I would still like to argue that a double correction wave b can't make a new high above wave a,
and that wave b has to be a flat to do just that. In this case wave c was not in 5 waves, so that means wave (b) is not a flat.
You can check out my count here if you want
This is as far as I know, but I'm sure you have more expecerince and would like to hear your thoughts if it's not to much trouble :)