The EUR/USD has recover 27 points from yesterday sell off. The Euro has hold itself very well considering all the financial crisis in the Euro Zone. The Euro is currently at more than two years low against the USD and there is still the possibility that it will go even lower.
One positive thing is that beside the uncertainty about the future existence of the Euro, traders, investors and countries are willing to have the currency in their portfolios. Perhaps the possibility of disintegration and the following catastrophe are very remote.
The EUR/USD chart is still in a down trend. Bullish traders will have to be quick if trying to cash on small reversals. Bearish trader shall have caution going short. The current earning season could still come up with surprises.