EUR/USD - Wave 2 is almost done, look for a new decline soon.

(Please click at the chart to see it better)

EUR/USD:

 

We have seen the expected test of the 38.2% corrective target at 1.3691 (the high for now has been 1.3687). Short term I will be looking for one last minor high near 1.3718 before wave 2 is finally in place and a new impulsive decline can take over for a move lower towards important support near 1.3200 and a clear break below here will open up the downside for a continuation lower towards 1.2755.