FXstreet.com (Barcelona) - The Euro has hit yet another all-time high against the Dollar which has weakened against most currencies. Nicole Elliott, senior technical analyst at Mizuho Corporate Bank adverts about the Dollar's persistent weakness: investors should prepare for persistent and possibly chronic US dollar weakness this year. The Euro, along with several other currencies, has rallied to a new record high at 1.5587. It is of course overbought but desperate times mean dramatic values and moves. In regards to strategy, Elliott advices: Attempt very, very small longs at 1.55525 but only if prepared to add to 1.5400; stop below 1.5250. Short term target 1.5750.
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