Looking at the hourly chart of EWG, $29.26 looks like a buy zone for a short term bounce, with horizontal support, 50 MA and Bolly all in the frame.
Possibly not one to hold though, given that Greece is far from resolved and the rhetoric isn't particularly hopeful at the time of writing.
DYOR, WTFDIK etc. etc.
The Dax is at a critical juncture, currently threatening to break back above sloping sup/res (neck-line.)
Bears will be hoping for a failure here and vice versa. Note the 0.38 fib was clear support, suggesting that the December 2014 low marked the beginning of the wave, with the April 2015 high marking the end.
Consequently, the re-tracement could be done....