We are still in a bearish trend on the EUR/USD until the 11890 is broken and shows support. the recent strong move up suggests the start of a new buying trend but has stalled at this resistance level and shows rejection in the form of a pin bar on the daily chart. If it is the beginning of a new motive phase then we should see wave two pull back to the 50-61% fib anyway which gives us the opportunity for a 1:1.5 in the direction of the current trend.