Pointless trying to predict the manner in which a market will breakout of a coil. In the past, I have seen it fake one way and then come out the other side, or, have a straight line directional breakout move. No major policy changes are expected tho Draghi’s comments are expected to be on the dovish side. I have often found the ECB meeting days to have more volatilty than FOMC days. It is never the news itself, but the markets reaction to the news that is unpredictable.
Market participants sitting on the fence.