The one thing we can take away from the crazy price action in the last few hours is that the market is much less short than it was earlier today. Should prices turn to the downside, expect it to have an easier time getting through the central bank bids at 1.1915/20.
Traders will be selling because they have to, not because they want to..those moves are usually more powerful.
EUR/USD trades now at 1.1954.