Well earlier in start of this year of 2015 on JAN 15th, we saw Swiss National Bank rat cut interest rate from -0.25% to -0.75%. So price came down from 1.0200 down to 0.8330, like around 2000pip drop. Where price became oversold. And than we later saw alot of buying upto month of March when we saw EUR/USD near 1.0450$ for 1€. So, fed had to control price of USD, so there was no interest rate hike in that month, hence we saw a pullback at point 3 down to point 4 our higher low 0.9080. Currently point 5 is like a resistance breakout 0.9540, if we break above it we should move higher around 0.9800 by month of August, as earlier Fed said they might hike interest rate by end of this year 2015. So, which means we might see some consolidation to that point with respect to better than expected Non Farm Employment change numbers this month :)