This is one possible scenario. A bounce from 1.1270/80 could send the price back to retest 1.1220. As long as the price will not break and close (60 min chart) below 1.1200, it might continue the up trend, targeting this time thr 61.8 Fibonacci retracement. A break below 1.1200 could signal a further drop for the Euro. Don't forget about granny Yellen, who's gonna have a speech on "Inflation Dynamics and Monetary Policy"
Trade closed: target reached