The EUR has taken a tough beating recently, dipping quickly and deep into impulsive behaviour. The EW analysis is clear and comprehensive, we have completed the iii wave down, and we need to correct to the iv wave of one lower fractal, 1.29-1.30 before continuing down to complete the v wave at 0.618 of iii, 1.22. From that level we can look for a larger correction, to the 1.30's, before some serious collapse follows.