On the day it hit 1.1615, it closed weak and created a Dark Cloud Cover pattern. That enhances the view that it has completed the wave(C) rally. From here, it is on the wave(D) down wave which is expected to last 3-4 months. Target for wave(D) is around 1.0750.
We also note that the Dollar Index might have finished its downward correction when it hit a low od 91.88 this week and rebounded to 93.30 currently. I expect further upside momentum towards 94.00 soon. Above 95.50 signals a strong USD rally against the majors. Keep a watchful eye on the Dollar Index as EURUSD is a major component.