EURUSD bulls & bears fighting along trendline

11 Jun 2015

EURUSD recent price action revolves around the downward trendline drawn starting from Dec high last year. An interesting pattern can be seen on the 15 min chart. Whenever price broke out in either direction, it was first pulled back to the opposite direction, then a big move was followed in the original direction. This pattern has already repeated 4 times, and it will be interesting to see if the pattern will repeat itself again.