The ECB rate decision and Mario Draghi press-conference definitely had quite the effect on the market because EUR/USD dropped almost 500 pips for less than a day and broke not only below1.1400 but below 1.1200 as well and is likely headed for 1.1000. The pair is in a state of freefall and if it keeps it up we might see it reach parity sometime soon unless the elections in Greece on Sunday turn things around. If they don’t I think we might have to prepare ourselves for the possibility of this pair breaking below parity. Either way the elections on Sunday will likely cause quite a bit of volatility and there will probably be a gap on Monday when the market opens again.