In the previous update on EUR/USD, I noted that a price bottom has been established just above a critical support. Let's follow up on how the market is proceeding after the price bottom.EUR/USD 4H Chart 12/7(click to enlarge)Pullback Stalls at 1.07:- I noted in the previous update that we should probably see EUR/USD find support at or above 1.0650, and that a break back below 1.06 could turn the market bearish.- The market supported EUR/USD at 1.07, a bullish sign. - Now there could still be some short-term bearish risk towards 1.0650, but sp far, the 1.07 support is offering a bullish signal .Upside:- The bullish outlook should be limited to the 1.10 area, which is the central area of the multi-year consolidation range seen in the weekly chart below.- A conservative outlook could be the 1.0850 level, which was a previous support pivot. EUR/USD Weekly Chart 12/7(click to enlarge)