EURUSD formed a cycle bottom at 1.2329 level. Sideways consolidation in a range between 1.2329 and 1.3290 could be seen next week. A break of 1.3290 will confirm the resumption of up trend, and first target would be at 1.3600 level. However, below 1.2329 previous low support will signal deeper decline to 1.1500 zone.
For long term analysis, EURUSD might be forming a long term cycle bottom at 1.2329 on weekly chart, and a break of 1.3785 level will confirm the cycle bottom.
