As far as the technicals are concerned, we have a very strong pattern forming on the weekly chart. There is massive resistance from above via the which will make a turnaround difficult. The is waning and the indicates entry into a position is safe. Further, there seems to be some high selling pressure via the OBV indicator.
The indicator notes that we've entered territory (on a day chart), and the indicator is waning with the , suggesting a collapse may follow soon, perhaps even after Mr. Draghi's speech.