Awww.. Look at EURUSD what's going on that! What pattern its forming ? & at which direction its going to make a move? Well there are pretty much chances of breaking down, but there are considerable chances of upward move too. Hopefully within a week we will have a better picture of it!
I agree with you for a 1.2 handle. Euro has fallen too much by now on just speculation. Of course itally referundum makes some impact in the coming week