EUR/USD pullback fails to convince
The pair began turning lower overnight, following on from a retracement higher. As such, this move higher looked more like a temporary bounce than a bottom. However, the shallow retracement we have seen since is not convincing as the spark for another move lower and thus we could move higher yet, with the 76.4% retracement (1.1287) of particular interest.
Ultimately, we would need to see an hourly close above 1.1309 to bring about a more bullish view. Otherwise, the downtrend has a good chance of returning. It may just not be quite yet.