Iran has "test-fired" an upgraded version of its most advanced missile. It's got a range that would let it reach Israel, and parts of Europe,* and the "test" is supposed to frighten the civilized world out of sanctions and/or attacks to prevent Iran from going nuclear.
What I suspect this "test" will accomplish is to provoke Israel into going in and taking out Iran's newly-acquired nuclear power plants,** as well as any technology that might permit them to rebuild them, or any military technology that might allow them to strike Israel. In other words, their attempt at deterrence from attacking is likely to turn into more of a motivator to attack.
*Boy, the former USSR satellites that our Dear Leader screwed over on the missile defense shield system must be pretty pissed at us, right now. So much for being the one to restore our reputation overseas.
**Not so ironically, the reason our Dear Leader screwed over some of our staunchest European allies is because Russia, the very nation that provided Iran with its nuclear technology, protested the missile defense shield being set up in Poland and the Ukraine. Russia claimed to believe that the missile defense shield was being put in place to defend against them attacking and re-taking their former, now independent territories. Given that Iran seems to be becoming a puppet state in the new Cold War, that claim now makes sense.