The charts seem to show that there wont be any really major re-tracement in EUR until 1.22 levels because of a multiyear wedge formation. In the interim tho, we could have a potential re-tracement because of a multi year support/resistance line that could push the EUR up to 1.29 levels before resuming it way down to the target of 1.22 where there is a high probability of a lot of support and a rebound.