If this is truly a 4th of 5-waves, EUR/USD bears needs to avoid any overlap with the bottom of wave 1 (Sep. 3rd low) at 1.1088, argues Goldman Sachs. "In other words, as long as the market holds below 1.1088, there’s still a good chance to see at least one more impulsive move lower. This would in turn complete the 5- wave bearish sequence that started at the August high," GS clarifies. "From current levels, wave 5 has potential to reach a minimum target of 1.0420 (if wave is equal to wave 1). An extended 5 th wave could reach as far as parity (1.618 times the length of wave 1). Failure to hold below 1.1088 however ... (full story)