Although we did a EUR/USD anaylsis a little while ago, there's been a lot of inquiry regarding this pair because of the big recent moves in the market.
If you look at the 4 hour chart, you can see we're forming a potential Contracting Triangle (CT). CTs are also called "Continuation" triangles.
Once the triangle completes, look for the pair to potentially move back up to test the high from early May (around 1.4900) and above.
Good luck with trading.