The EURUSD is clearly on its path to the 1.28/1.30 target zone as the counterrallies were so flat that the momentum is clearly strong enough. The Greece situation did not turn out as the usual moron politicians tried to sell it to the public in order to dump overpriced bonds on them. After real inflation the yiel Greece offers is pathetic it should rather be 12-15%. On the other hand all bonds pay far to less yield due to the inflation lies.
Anyway we can expect another small upside correction up from the 1.30 area before a final trough should rather dip to the 1.28 even 1.27 level before the market will turn for a big EURO rally as America is not in much better shape. So far america takes the pain of a strong Dollar to be able to sell their bond issues although most earnings will suffer as 50% of SPX profits comes from overseas. a falling Dollar would make their bonds unsellable.