EURUSD H4 forecast

I am predicting the price should make zig zag up to fibo retracement  38.2 level 1.3741 then go short to target 1.3250 around fibo 150% level. What do you think?

German PPI fell 0.1% in November in line with forecasts, up from the 0.2% drop in October. On an annual basis PPI slid 0.8 in November, after dropping 0.7% in October, as expected. Consumer sentiment in Germany improved in December and optimism about the economy's future in January surged, an index measuring German consumer confidence and rose to 7.6. The Euro declined 0.5 percent in the last week on the back of strength in the DX due to QE tapering of $10 billion by the FED. However, sharp downside in the currency was cushioned due to favorable economic data from the region. Further, upbeat market sentiments also prevented sharp downside in the currency.

Fed tapering $10 billion, it plans to cut monthly asset purchases in January to $75 billion from $85 billion, while reinforcing its assurance that interest rates will remain low for an extended period. Policy makers will probable reduce bond purchases in $10 billion increments over the next seven meetings before ending the program in December 2014, economists said in a separate Bloomberg survey  published Dec 19.