As we see on the chart, it seems the EURUSD is rebounding. The oscillators show the same path. For instance, the stochastic indicator has crossed its average upwards underneath 20 (bullish). When Europe is "about to disintegrate", the euro roars. Why? Because there is a huge deal between USA and Europe not to extend their currency movements that much. Pure manipulation. Now the world is ready for the American QE3, perfect for the president election.
Where can it go? Our guess is 1.31 at least, to close May´s gap. Remember the week the EURUSD got the minimum value, we wrote down: "...don't trust the USD, it could go down any time, taking everyone by surprise" (link in Spanish here).