EURUSD might have another leg down before making some upmove
after bouncing the Daily resistance or Monthly resistance.
My shows me some more breath-space is available before
continuing downwards, also Fib. confims this.
At this page( http://fxbootcamp.com/cot-forex-data/ ) you can see, under euro that the majority of traders are dramatically short(wich is the faded red line) against the traders who are long(wich is the faded grey line).