Get ready for anything
The EURUSD has ping ponged between the 1.1214-18 level above (that old chestnut from the video -"Take a step back and see the big picture") and the 100 day MA at 1.11798. The pair sits on the 100 day MA as it prepares for the barrage of headlines from Draghi's prepared remarks and the presser.
A move below the 100 day MA would look toward the 200 hour MA at the 1.1163 currently. The 100 hour MA is at 1.1148.
On the topside, the 1.11214-18 needs to be breached and stay that way. The 100 bar MA on the 4-hour chart at 1.1234 and the high price from May 23 at 1.1242 will be the next targets on a break above.
The thing about a press conference, is it is a press conference that lasts a good hour. Over that time there can be a surprise that....well surprises the market. So event risk is drawn out.....
