Today, European President Draghi was due to testify about the economy and monetary policy before the European Parliament Economic and Monetary Affairs Committee, in Brussels. To sum up what he said in his speech, he clearly stated that the European economy is stabilizing from its draw-down in the 2007-2008 financial crisis. This is why we have been seeing the economy struggling to get back in the past 10 years. As a position trader, I'd like to see this kind of news and although it is not the GBP currency we are talking about here, it is still inter-related to the EURUSD. My technicals point towards a bullish engulfing breakout from 1.2870 resistance on November 22, 2018. I like to buy the dips so I am already in longs. My short term target will be 160+ pips to 1.2900 resistance and my intermediate target around 1.3200 resistance.