I'm expecting a nice bull run back into the .05350's. our CURRENT market sentiment is bullish so i'm expecting the bulls to run back into the bottom of a bearish trendline i drew off of the daily. The trendline is also my 1.272 extension level, so i'll then be looking for POSSIBLE sells around that area back into the overall bear trend.
On a long term view, EURUSD is still correcting. If price rally above 1.0990, the pair may continue to be bullish for the next trading days. On the other hand, a break below 1.1020 suggests that correction is over and will push price lower.