EURUSD is facing 1.2671 key resistance, a break above this level will indicate that the long term downtrend from 1.5144 has completed at 1.1876 already, then the following bullish movement could bring price to 1.4700 area. However, as long as 1.2671 resistance holds, the bounce from 1.1876 is treated as consolidation of downtrend, one more fall 1.1400 is still possible after consolidation.
For long term analysis, EURUSD might be forming a cycle bottom at 1.1876 level on weekly chart, key resistance is at 1.2671, a break above this level will confirm the cycle bottom.
