I can see a short term head a shoulders pattern forming/formed, unless i see a break and close above the 1.18750 level. I think the euro will pull back to the 1.16250 level where the 100 period moving average sits. The rally has been extended over the entire year and a pullback to that level will be healthy, long term however I see a target of 1.2500. Both 50/100 SMA's are starting to level out showing signs the buyers losing control.