???URO update – $EURUSD $6E_F $$ #forex

Just a quick follow up on yesterdays post.

I would be surprised if it breaks 1.3130 with ease.

1.3130 worked almost to the tick, providing a reaction from sellers towards 1.3060 (which is a POC), currently a key price point and seems to be holding, at least for now.

I have not yet seen a follow up in terms of selling pressure, provided 1.3070-1.3050 attracts motivated buyers, we could be in prescence of a temporary bottom, in which more upside should be expected.

Towards higher areas of value, I will be watching specifically what happens into 1.3110, followed by a possible retest of 1.3130.

2012-12-05_1028

Alternatively, provided 1.3060 does not hold, I will be looking specifically into 1.3020, and just below the area around 1.2960s is key in my opinion to mantain upside momentum. 

2012-12-05_1033

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