Technical Analysis: Since we had an uptrend prior to going into a ABCDE formation that is an indication that wave E will break through the channel line structure to the upside. I do not see how it could go any lower after being bearish this long. Be safe and wait for a higher high on the 15min chart for confirmation just in case.
Fundamental analysis: Dollar just started the week stronger in the news. So i can see a severe change in direction for this pair.