Yesterday opened within the lower distribution of Tuesday and moved up to a tick below the bull/bear zone before reversing and driving lower through the value area of the Feb 12th-20th micro composite. Yesterday's mid-point at 2092.50 separates the two main volume distributions and was the lunchtime pullback low after the rally - key pivot to carry forward today.
The market is still in an overall bullish trend within a balance zone above the breakout level of 2088.75.
Draghi has been on the wires to say that QE buying begins Mar 9th, and inflation and growth forecasts increased for 2016.
The overnight range is 2094.50-2103.50. We may see some higher volume from longer term money following confirmation of the timing and amount of euro QE. I'll be looking to use the support zones for long entry setups.