???URO UPDATE (T-1 day to NFP) $EURUSD $6E_F $$ #forex

The downside scenario posted yesterday has been developing since the end of Asia session.

2012-12-06_1120
As posted yesterday.
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 maintain upside momentum. 
1.3030 is being tested as I am writing this update. There have been a change of character into the pair and, following up on the hypothesis posted above, I will be looking to see if motivated buyers decide to step into the 1.3020s. Otherwise, I expect more downside.

2012-12-06_1121
Below that, I do not see much support/demand until 1.2980, which is right below a key price point into the mid 1.2960s. Below that, 1.2940-1.2918, with special attention into 1.2920 and 1.2900.

2012-12-06_1123

NFP is tomorrow, so I will be prudent and cautious.

 

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