From a Fibbonacci standpoint a target of around 1.03 makes sense as this is the 1.618 retracement of the first wave down, a very common fib number in third waves. This current move down that started back in May has all the signs of a 3rd wave. The move has been strong and impulsive all the way down with little sign of letting up. After completing this 3rd wave EURUSD can see a decent relief rally to form the 4th wave. More on that later, for now we look to complete this current wave
