During the 1/22 session session, the ECB announced details to the the much anticipated QE program and they did not disappoint and dragged down the euro. With a pace of $60 billion euros a month from March to at least September next year, Mario Draghi and his colleagues have laid out at least $1.1 trillion euros for sovereign bond purchases. The EUR/USD consolidated ahead of the event risk as we can see in the 4H chart. After the announcement, the market sold the euro sharply and the EUR/USD has now fallen to almost 1.10. A this point, if there is any pullback, be aware of resistance in the previous support area ... (full story)