EUR/USD is range bound after ECB

Although in the beginning of Mario Draghi's conference the pair was moving as high as 1.14, by the end of the session the bears managed to take control over the market and sent EUR/USD even into the red territory. Trading closed at 1.1287 with just a nine-pip daily loss. It seems that undecided trading conditions are here to stay. Within the current rising wedge pattern the bearish scenario is more favourable, as daily technical indicators are also forecasting a slippage. However, we see the 1.12 area being capable of capping bearish ambitions.  

Pending orders in the range of 50 pips from the spot spiked from 31% to 54% over Thursday, while 100-pip long orders skyrocketed to 55%. At the same time, the distribution between bullish and bearish open positions is largely unchanged at 42% vs 58%, respectively.