FXstreet.com (Barcelona) - The Euro recovery from 3-month low and MA200 periods in daily chart has continued in today's session after rising 0.45% so far from opening price action at 1.4380. Currently the pair is trading above 1.4430 close to daily highs.
After rejecting at 1.5140, 16-month highest level reached December 3, and falling around 900 pips to find support at 3-month low at 1.4215 in Dec 22, the Euro started to recover against the Dollar with the advancing around 215 pips to reach 1-week high at 1.4435.
According to the Forex research staff of ScotiaFX, the asset diversification will put pressure on the Greenback and EUR/USD could reach 1.60 in 2010: The single European currency (EUR) continues immersed in a gradual strengthening path against the USD... We assume that the global asset diversification winds will continue to blow and that EUR/USD will approach the 1.60 mark by the end of the year 2010.
ScotiaFX provide us with its outlook on the EUR/USD: 3-month: 1.52; 6-month: 1.55; 12-month: 1.59.