U.S. dollar's long term objectives could see it go further down against Euro

The biggest foreign-exchange strategists and investors say the best may be over for the dollar after a four-month, 24 percent rally.

Fundamental
The biggest foreign-exchange strategists and investors say the best may be over for the dollar after a four-month, 24 percent rally.
The currency weakened 5.9 percent measured by the trade- weighted Dollar Index after strengthening between July and November as investors bought the greenback to flee riskier assets and repay dollar-denominated loans from lenders reining in credit.

Technical
Technical analysis show us the euro may continue its uptrend as MACD giving us a buying signal by crossing MACD line to the signal line and RSI breaks 30% level upwards. Bollinger gives us a bullish signal by closing the candle above the upper band.

EUR/USD (Daily Chart)
The primary tendency breaks the standard error channel upper line.

 

 

EUR/USD (Hourly Chart)
The Minor trend is in a clear uptrend.