There is a potential intermediate term (alternate) count of ABC down for the Euro, as labeled below.
click to enlarge
The alternate count C has exceeded the A, by about 10%. Not enough to rule it out yet.The .618 retrace of the whole B wave of larger degree up from 1.23 is at 1.3400. Not there yet.
And the so far the move up off the lows looks choppy and corrective..not an impulse wave.

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