EUR/USD: We had written about a potential change of a trend on EURUSD and resuming a broader bearish perspective. However the short-term bullish correction as a retracement to the most recent drop is still the main short-term play in town. We mentioned before that a leg above 1.105 may cause an extended move higher towards 50-61% retracement of the most recent drop and a possible touch of 1.12.
However a current leg higher is probably just a move with a target of forming new lower high as a new lower low has been recently been stabilised. The basic target for a bearish side of the market over a medium-term lays around 1.07-0.8.