Has Euro Reached a Technical Bottom

With the ECB QE plan inaction around the corner, it appears that Euro may come under further pressure which may push it further down to a new psychological level of around a 1:1 parity with US$, which may seem an unprecedented low level given recent performance. But from a technical perspective perspective this still seems a big stretch. This means that the price level would have to reach the line of resistance R1 ~ 1.04 Euro/US$ parity. However, if the ECB's plan is received with a positive note, we can expect a short rally.

Looking at the Eliott Wave pattern (Pls refer to my publication on that) it appears that the bottom has been reached with a prolonged double zig zag pattern, and which would constitute wave A of an extended correction. And now weave B, pointing upwards, should ensue.