EURUSD is flirting on weekly trendline with strong bearish pin bar on daily chart. However, Euro futures still has bullish optimism left. Volume & open interests are still high, but MFI indicates over bought. QE-3 is from Fed is still in the game along with unlimited bond buying from ECB. But crossing 1.32 level for EURUSD seems highly unlikely by looking at current earning reports in US, Asian & European equity market. Successful Spanish 10 year bond auction in today's EU session may push EURUSD 1.32 from current price level & opposite will lead to more bearishness towards 1.28 level in EURUSD. USD
Increase in oil supply from Saudis have clearly made petro dollar stronger untill US presidential elections in November. Buying volume has declined in S&P500 for the week, which makes US$$$ stronger for the week. China's manufacturing report might add lil negative sentiment to SPX for the week, making USD bullish. Tomorrow's unemployment claims will be a key trend decider for USD.