Following a dynamic increase in the past week, which led to the € 1.42 it well above the mark, followed later in a correction, which accelerated in early trading today, first and drop the price back up to $ 1.40 was . From the perspective of the daily charts, with the last high at $ 1.4247 a large part corrects the previous downward wave, which initially suggests a continuation of the overall uptrend. This suggests that the current price decline from the market point of view of a correction phase are attributed, possibly at the end of the next support. Predestined for this are currently under test in addition to the 1.40 mark it, the area is a 38.2% Fibonacci level at $ 1.38 and below at 1.37 USD, at the same height with a 50% Fibonacci level. Impetus for today's trading and increased volatility are possible with the following industry events:
11:00 EU Euro zone inflation flash estimate in October
11:00 EU Unemployment September
14:45 U.S. Chicago Purchasing Managers' Index in October

EURUSD 31.10.2011 - Daily

EURUSD 31.10.2011 - H4