There is a high probability scenario that we have 5 waves down in EURUSD which implies we'll have a serious upward correction from now on.
The concentration of several important ratios call for completion of the 5th wave:
- 100% of Wave 1 projected from the end of Wave 4 - 38.2% of Waves 1 through 3 projected from the end of wave 4 - 261.8% extension of Wave 1 - 161.8% extension of the Wave 4
If price trades above 1.099, end of Wave, we can be sure that a serious correction is going on.