05/7/2013 6:30 GMT
EUR/USD is still in strong bearish trend. Now it is on 78,6% Fibo retracement but it going lower soon. Market is waiting for today NFP news and expecting good once. If it’s true EUR/USD should go rapidly down, because this can mean faster end of QE in USA and strength of Dollar.
There are 2 main support. Red line is neck line of Head and Shoulders formation (it’s no longer valid but line still can work as support), and key level: 1.2750. After breaking it down-trend can get new fuel.