EURUSD - In bullish corrective phase

FX_IDC:EURUSD   Euro / U.S. Dollar
42 0 3
FX:EURUSD             From a weekly perspective, the bears appear to be in control on the EURUSD             , but a resting corrective period in the low 1.0479 area would be the ideal preparation for an up-move towards 1.15068 area, near the highs of last May.

A near term pullback would be very healthy for this pair. The skeptics may declare a bearish "double-top", but my view is that such a pull back - if supported by the 200 day Moving Average would be the necessary prelude for the launch of a conclusive move above this year's highs.

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