EUR/USD: The market is waiting for the speech of Mario Draghi

On Wednesday, euro/dollar closed lower. Before the performance of the US Federal Reserve Chairman Janet Yellen euro corrected to the balance line. After her speech the euro fell against the dollar to 1.0624. She said that the regulator intends to increase the base interest rate several times until 2019. At the same time she refused to specify the timing and the pace of the increase. She said that the decision will depend on the performance of the US economy. Nevertheless, the dollar rose after her performance.
On Wednesday, the mid trendline was broken. Thus, the "bears" have opened their way to the trend line at 1.0571. Meanwile, the  mark 1.0623 must be broken too.
On Thursday, the focus of market participants will be on the ECB meeting and press conference by Mario Draghi. In this regard, the direction of the pair will be determined by Draghi's rhetorics. After yesterday's fall before the ECB meeting the euro could continue its upward correction to 1.0659. If strengthening is faster, the pair could go up to 1.0675.