Trend has turned. Once bearish now bullish . Not even a Moodys French Government downgrade can put a stop to this momentum. Expect a 1.40+ price tag June-July 2013. Slugish upward movement throughout the rest of 2012.
I found it interesting that the 10-27-2011 peak comes really close to matching the head to neckline retrace. So on this chart where I met the right shoulder to neckline retrace it might be off slightly. As for lower right shoulder, it cold go lower you are right. However, that would more than likely mean a quicker bounce back to the neckline.