FXstreet.com (Buenos Aires) - Dollar bearish momentum will likely extend in the next sessions, following gold rising price and Wall Street gains that should be reflected in regional stocks markets. Euro could extend gains to past December high around 1.4720 in the short term, yet seems hard to see the currency hold that levels; not only is the euro zone recovery likely to prove as fragile as officials have warned, but the euro itself will be at risk if Ireland fails to pass the Lisbon Treaty early next month. Besides, ECB's president Jean Claude Trichet, had commented several times that they support a strong dollar policy, as a weaker Euro will accelerate the recovery of the 16 nations forming the zone.

Anyway and in the short term, pair remains strongly bullish, yet over bought corrective movements should remain capped at previous high around 1.4450, while movements above 1.4535, past Tuesday high, will likely accelerate rising euphoria in the pair.

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