???URO update – New areas to note after recent selloff $EURUSD $6E_F #forex #fx $$

No buyers have showed up yet. Usually these type of moves need some time to get digested.

2012-12-06_1611

Some observations:

– The pair is currently overextended, although theres definetly a change of character in price action

– I am not discounting the possibility of new lows towards 1.2944-1.2936

– I would be surprised to encounter even more sellling pressure after 1.2940s

– 1.2990-1.2980 seems like a possible are for first retest, followed by 1.3040-1.3022 & 1.3081-1.3055

– Take into account the US issues the NFP report tomorrow morrning, as stated this morning.

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