EURUSD Oct 31 to Nov 04 Outlook

Recap
Breakout to the upside and tagged target 1.40 and the next higher target of Y+3. Euro has now come back in full circle back to the price level right before the crisis selloff started in August.

Outlook
The start of the ending to the european financial crisis? Probably. At least for this particular crisis.

As long as US dollar is willingly going down in value as much as possible and as fast as possible. Euro has found an important bottom and that it will be difficult to go much lower until the uptrend run its course which can take from a month to several months.

Next pullback that produces a higher low above 1.38 (preferred) or lower at 1.35 – 1.34 (not as good) area will be the next great swing long entry.