EURUSD: Bearish weekly engulfing might setup 1.13 re-test

The euro has reversed strongly from its range high at 1.18 with a weekly engulfing candlestick which implies weakness

Scenario A) Price continues to drop from the weekly open
Scenario B) A better risk:reward setup occurs after a rebound to 1.17, the 50% Fib of the bearish engulfing candle