Last month, we saw a potential inverted head and shoulders pattern developing in the EUR/USD. A month later it is close to completing this price bottom. But the question is whether it will turn bullish. I think it might complete the price bottom, but the overall market could still be bearish-neutral in the long-term, and we might want to limit our bullish outlook to the short to medium-term (a couple more months or so).EUR/USD Daily Chart(click to enlarge)The Price Bottom:- The daily chart shows a potential inverted head and shoulder pattern forming after a bearish market since June of 2016.- I think the price bottom does reflect a bullish outlook, but only within the context of a larger consolidation.Consolidation:- The weekly chart shows that price has been pretty much sideways since 2015. - Price has been consolidating between roughly 1.05 and 1.17. - However, we saw price push to a new low at the end of 2016, though we can see now that price has come back up instead of extending the bearish breakout.- While there is a potential that the bears are exhausted in this market and bulls might make a run to pressure the resistance around 1.17, we should still respect the fact that EUR/USD is bearish-neutral in the long-term.- Therefore, we should have some anticipation of resistance starting around 1.10, the central area of the consolidation.- For now, I think there is upside towards 1.10, but I would be getting ahead of myself in calling for a bull run towards 1.17 or even the more common resistance around 1.15. EUR/USD Weekly Chart(click to enlarge)