FXstreet.com (Barcelona) - The Euro's rally against the Dollar from October the 2nd at 1.4480 has continued today to reach 14-month high at 1.4970 in the fourth consecutive day of gains of the European currency against the Greenback. EUR/USD is continuing, thus, with its 4 months advance from July 15 low at 1.3750 with the pair soaring more than 1200 pips since July.
Today The pair has reached 14-month high at 1.4970 and it has retreated to trade below 1.4850, bounce at 1.4840 and trade currently at 1.4935/45, 0.05% above today's opening price action at 1.4930.
According to Rob Booker, founder of TraderRadio.net, Euro can't actually sustain the levels it is trading against the Dollar on the back of the actual fundamental conditions: Economy is still weak around the world, US and Europe have the same last year problems with job losses and problem banks... in this line, emerging economies will invest its money in USD, specially in USD Bonds, as usual in economic crisis.
Booker concluded in the interview he offered at the International Traders Conference: Currently the EUR/USD is trading approximately at 1.4900, my prediction is that Euro will fall to 1.35, maybe 1.40 in the last months of the present year.