EUR continues the free fall

FXStreet (Łódź) - Independent Analyst Vladimir Mihaylov points out that the EUR continues extending losses across the board, following the ECB rate cuts and new measures introduced by the central bank last week.

Key quotes

"Target is set to 1.2805 and even below to 1.2765. Correction higher is needed, but still noone takes any profit, this means they expect more drop."

"Correction will start once we have over 60 pips upside H4 candle."

"Indicators on all time frames except M5 and M15 are extremely bearish."

"Maybe today we shall see some profit taking."