Since last Thursday the world turned from bullish to bearish in EURUSD but I think it is way too early to get excited. On weekly chart we are still above the multi-year trendline and perhaps we just went back for another re-test? Also, the fact that we didnt reach the 1.4150 area, which has triggered massive sell off before, makes me a bit skeptical about the bearish outlook. No doubt euro looks heavy on smaller timeframes but the bigger picture does not really support it, at least not yet. All in all - next week is crucial for euro bulls and a weekly close back above 1.39 would probably be enough to have another go for that magical 1.4000. Time will tell.