EUR/USD recently broke a key resistance around 1.0850, which completed a price bottom. Then after consolidation in a small range between 1.0850 and 1.0950, there was another bullish breakout. These are signs that EUR/USD has turned bullish. Another couple signs are 1) price is now above the 200- and 100-day simple moving average (SMAs) and 2) The RSI tagged 70.EUR/USD Daily Chart(click to enlarge)Pullback:- Although the bullish breaks open up an upwards outlook for weeks or even months to come, the 5/8 session price action suggests a short-term pullback first. - Note that the 5/8 session candle is a strong bearish engulfing candle. - Also note the bearish divergence between price and the RSI.- We should indeed anticipate a pullback this week and maybe even the next week.- However, I would not expect the pullback to push below 1.07. - I think in a bullish trend, we would see support as early as around 1.0850