EUR/USD ECB Announcement Trade Set Up

Price action has broken the downward daily trend line which now becomes support. Price is bullish above the trend line and break of 38.2% Feb level and is likely to consolidate around 1.1 while markets wait for the ECB interest rate and monetary policy statement due Thursday.

A break to the up or downside is possible however my preference is towards a break down (Elliott Wave).

Be ready to turn into a bear or bull based on the news result, equally appealing trade opportunities should be available on both sides of the market.