EU ready to bounce

1.15 (.5 fib) should prove to be the floor, based on the hammer that formed on the weekly. The target for this bounce should aim for 1.2 which would form a head and shoulders pattern on the weekly, a very bearish pattern. If 1.175 doesn't get taken early next week, expect further weakness with a retest of 1.15 and from there a drop all the way to 1.2 (.618 fib)