Now then, going back and examining more closely that sharp drop from the end of wave (2) down to 1833, I notice that the major section of it down to 1914 ends at a point roughly equal to 2.618 of the length of wave (1). It is typical for 3rd waves to be 1.618 the length of 1st waves, or even 2.618, 3.618, etc., within more powerful declines.
There is also divergence in the reading which suggests that the above-mentioned 2.618 extension level is the extreme of the 3rd wave of that drop to 1833, and the subsequent (albeit very small) rise is the wave (4) followed by the final drop of wave (5) to 1833. That is because the typically shows stronger for the 3rd wave relative to the 5th, even though the 5th wave exceeds the 3rd.
This could explain the upward depth of this corrective structure, which may be near completion. It would also suggest that wave 3 is imminent.
In this case, the move up is a correction since 2009, so you are better off using the sharp move down as guide to determine the end of the leg.
As for the structure, you couldn't have any retrace past 61.8, nor wave 2 taking more time than 1.25x wave 1, among other things, this would discard the EWI style counts I'm seeing lately.
But, ultimately it doesn't matter, since it's really hard to apply EW to actual trades, while waiting for confirmation using the multitude of rules and techniques outlined by neowave. The founder himself doesn't trade using EW!
What is your view on EURUSD btw?
On the EURUSD, I think the drop to 1.0461 was the end of a 3rd wave of a post-triangle thrust from the triangle between 2009-2014. I believe the spike to above 1.17 was the C wave of the 4th wave up (a thrust up from the triangle B of that 4th wave).