1.
right before one's eyes
Physically or spatially right in front of someone. Describes something visible and immediately present.
2.
imminent, close at hand
Temporally very near, about to happen. Used when an event, deadline, or situation is approaching and nearly upon one.
Usage
Used adverbially with the particle に or で. The phrase 目前に迫る (to be closing in / to be imminent) is extremely common in both senses. The pattern ~を目前にして (with ~ imminent, on the eve of ~) is also frequently used.
Writing
目 means "eye" and 前 means "before" or "in front of." The compound literally means "before the eyes."