GDP figures for the second quarter are not good for EURO zone. Germany economy contracted by 0.6% while the whole EURO zone expanded by only 0.2%. Ukraine Russian conflict is also making EUR/USD bearish in the short term. EUR/USD has been in a down slide since May and it is expected that this down slide will continue and by the end of this year EUR/USD may be touching 1.32000. EUR/USD might bounce a little but the downward pressure for it is too much right now.