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 Red line is neck line of Head and Shoulders formation (it’s no longer valid but line still can work as support), and key level: 1.2750.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.

Another minimum today on EUR/USD?

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Comparic.com Editor-in-Chief. Trading since 2004, professionally connected with Forex market since 2006. Fan of technical approach to the markets – currently focuses on Ichimoku Kinko Hyo and Price Action strategies. He focuses on favorable risk-reward ratio in his own transactions. Speaker at many conferences on investment in capital markets, as a lecturer he cooperates with the largest brokerages in Poland and in the world. Vice President of the FxCuffs Foundation – Education and Development of Financial Markets.