In my earlier chart of EURUSD
action with 2 possibilities. First is for it to retrace the recent fall in the form of abc zigzag
to 1.3150 -1.32 area before continuing down. Second, with possibility of new minor 5 waves that could lead it to retest the recent high a 1.33 area and or make new marginal low for signification top completing 5 waves from July low in larger degree. Here is the Comparison chart of EURUSD
and Dollar Index
which I published back in November, buy with updating notes & EW counts. This seems to support the view that we could see retest of the recent high. On completion, we could expect much deeper retracement of the entire move from July high in the form of 38.2% or 50% Fib for example. Check out my earlier chart for additional details.