EURUSD M5 OUTLOOK

From the M5 perspective, we don't yet have a lot of movement. But we're bouncing up against the .382 from the hourly chart. If the price action stays above that .114 and begins moving to the right of the hourly's .382, I'm taking that as a signal that the recent down trend is complete for now, and I should take some profits. A break below this .114 may trigger a new short trend, however I likely won't look for longs until we're also in a new up trend on the hourly chart.