EURUSD stops on a dime at support - Is that it done for the day?

Another substantial level gets in the way of the Draghi drop

I highlighted the 1.1070-1.1200/15 range to watch in the euro earlier and the lower level at 1.1070 was the one to break. We haven't looked back as the bottom pickers come away with smelly fingers once again

We hit another level I circled on the chart at 1.1015/20 and we've virtually split the difference with a low at 1.1017

EURUSD H4 chart

We're at that time of day where if we're going to see some profit taking it's going to be within the next hour or so, and then towards the US close. The problem with the strength of the move is that the fear is that the tech isn't up to scratch and so if you do want to use the support levels you need to keep it very tight on both your stops and profits

A close above this level today would be a potential buy signal at any other time but in the context of these moves its not something I would be banking on. The sentiment and market are facing only one way and that's not a train you want to be stuck in front of without a quick escape route

Aaaaand typically as soon as I hit send we trade through the level to 1.1013 :-D