The 5th and final wave down has begun, with its first leg having been reached at 1.10874. It is now correcting upward in an ABC pattern, the B-wave of which is a triangle. The triangle's parameters thus far imply a thrust upward to about 1.15128. Taking that as .786 of the total thrust upward, I suspect there will be brief consolidation at that level followed by a final spike to the 1.1578 area (represents the 1.00 to the 0.786) to complete the 2nd wave correction -- which also represents the . of the 1st wave down.
Thereafter, a 3rd wave down presumably targeting 1.05618 or lower should commence. I would expect the final target of the 5th of 5th wave to bring the Euro to below parity with the Dollar.