Gains are limited

The EURUSD is inching higher on Draghi comments so far. The price has moved from about 1.1408 to a high of 1.1428. The low from last week reached 1.14315. That is the minimum target for the bulls to get to and through. Above that, the 38.2% of the move down this week comes in at 1.14434. The 100 hour MA comes in at 1.14579.

On the downside, a trend line at 1.1377 is a key level today and going forward. A move below would be more bearish and should lead to more selling on the break (stops triggered).