FXStreet (Łódź) - Independent Analyst Vladimir Mihaylov expects significant profit taking at the end of the day today, following ECB's monetary policy decision announcement and ahead of the US holiday on Friday.

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"As the price is above 1.3630 EUR/USD is bullish. First target is 1.3725 and the second one is 1.3780, finally 1.3840-50, where a correction to the downside must appear."

"Bearish scenario is if 1.3630 is broken, first target will be 1.3590-1.3600 support area, if broken next target will be 1.3510-1.3485."

"Remember that tomorrow US markets will be closed because of the national holiday, and market players will take their profits by the end of the day, so i expect significant pullbacks."

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Forex pairs in this Article » EUR/USD

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