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EUR/USD trend remains extremely bearish

FXStreet (Łódź) - Independent Analyst Vladimir Mihaylov looks at the market moving data releases this week and suggests that the EUR/USD bearish trend will remain in place.

Key quotes


"EUR continues free fall and indicators on H4, Daily and Weekly are extremely bearish."

"Seems that still noone is going to take profit from Short, and this tells me that more slide is to come."

"Today mr.Draghi will speak, but tomorrow will be the PMI data release and if it is weak again EUR will possibly drop below 1.2805 support."

"On Wednesday we shall have the Germany's IFO which is expected to be worse than previous too."

"On Thursday the most important news will be the US jobless claims report and Durable goods orders."

"Finally on Friday again important data from the US and it is expected to support the dollar gains further."

"So nothing good can be said for the EUR this week. Main trend remains extremely bearish."

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