The lead-up Selling pressure weighing on EURUSD on Tuesday certainly opens the door for a "Snap Back".
 
Its always dangerous when the ECB press conference can go either way in terms of their "Forward Guidance", so I feel that it is better to play on the LONG side of EURUSD.
 
Being so close to the US Fed rate CUT for the USD strengthens my belief that EURUSD moves sharply back above 1.1250 on ECB Thursday.
 
My Take Profit target rests at 1.1245 to capture a possible fade as the 1.1250 level is approached, but certainly 1.1280 or higher is very possible.

ECB & EURUSD

Dec 01 2020

1