It might work, taking out the EUR of the equation, there's a short-term breakout preceded by a divergence between the german 2-yr bond and the unique currency; as this is a relation, it means that choosing one of the side makes more profit that going for one and keep against the other. Just a matter of options.
But the upheaval is that volatility is on the upper-side.
As soon as 3,44 is respected the upside is in the highlighted area.
Next week is the most probable to show a reversal or continuation the line is alive and has to be overcome to show real strength.
Usually a retest of the resistance makes the case to open longs. The overall picture is sideways and a correction has to respect MR.
Keep an eye in the recent past as it develops in this case in shorter timeframes.
Both directions are eligible, redraw if the opposite is reached.