There is a possibility for the ECB members to increase the rates.
The support rests at 1.17010 with resistance at 1.17510 which both lines are above the weekly pivot point at 1.16330. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving above the 50 level, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
The resistance level breakout will push the price up towards 1.18.