Very possible from the look of things... It seems to be going through a brief consolidation on the 5 min chart and then some decline should follow... Shall see!!!!! - You in a current position right now?
This is a site I look at daily - pretty good!!! - http://www.dailyfx.com/
And this one is good as well - http://actionforex.com/ - Scroll down the left hand for great info.
A google search of - streaming forex news will lead you to some good resources as well.
Hope this helps - WC