Is there any sign of hope for Europe? The massive influx of immigrants (thanks again, Merkel), political instability, Greece concerns (with Portugal and Spain not far behind), and weak do not paint a good picture.
Using technicals, one could have forecasted the decision by noting the pattern, but clearly hindsight is 20/20. Note that this is a 30 min chart. If you check day level granularity you see EURUSD has a lot of room to tumble, with a head and shoulders-ish pattern forming at this level too.
Typically with massive moves like those pictured, we can expect a pause, followed by continuation up until a level drawn by the , followed by a slow retracement (what I call the sickle pattern). We can expect to see something like this here, but keep in mind there's really no good news coming out of Europe and parity with the dollar seems like an inevitability at this point. I'd wait until the ECB decision frenzy subsides, then short into rallies. You don't want to get caught in a short covering dead cat bounce.