EURUSD has been bearish for quite awhile. The market sentiment at IG has been mostly net long for awhile, with signs of turning. Usually when the market sentiment turns, which it is; it is time to start going long. If I was ballsy I'd say we would be going to 1.31032, however I'm not so this is a conservative analysis taking us only to 1.17335 initially. If we break the upper trend line, then I would have high confidence we will hit the higher fib level.