Major Downside Reversal in EURO?

Increasingly, the key downside reversal action in EUR/USD has the look of a significant peak right near 1.4000 and the start of a period of weakness that very well could represent the end of the entire upleg in EUR/USD from the July 9, 2013 bear trap.

If my pattern work proves reasonably accurate, then today's action likely initiated a new bear phase in the Euro vs. the US Dollar.

If so, then it should be accompanied by Draghi jawboning about still-lower rates, extraordinary liquidity measures (QE) to avert deflation, and elicit inflationary expectations, and even ECB currency intervention, or the threat of it in case the Euro is stubbornly strong otherwise.