Can EURUSD go bullish now ?

OANDA:EURUSD   Euro / U.S. Dollar
EUR/USD has drop in a significant amount that may trigger an up trend price correction up to 1.19530 then either continue dropping or rally back to the top to around 1.24630
The price is currently around 0.382 of Fibonacci retracement level,
base on Elliot wave theory it is believe that this is the beginning of wave 5.
just to back this up, I a new price level was open around 1.602 during this rally and it yet to be complete I believe its impulse wave
This is just my trading idea and nothing else
what do you think of the idea
please this is not a financial advice, just what I am trading at the moment rather you can advise me