Looking through my charts this morning I've spotted a very interesting fractal pattern on EUR/USD. If history is to provide us any guide than we can expect the EUR/USD to behave as it did in June (see Figure below blue circle). We can notice that today's price action structure looks very similar and it suggest that we can expect a short lived sell-off followed by a much aggressive secondary sell-off.
We have to keep in mind that fundamentally speaking the dri…