Euro Could Rally to 2009 High of $1.52: Charts

The euro could be set to rally to its high of last year against the dollar of $1.52, Royce Tostrams, technical analyst at Tostrams Groep, told CNBC Friday.

"The euro has been breaking above its high of mid-October at $1.40-$1.50, which is giving a buy signal. This will trigger a new rally into the euro against the dollar," Tostrams said.

The short-term target for the euro [EUR=X 1.4033 0.0004 (+0.03%) ] is $1.46, but over the next six to eight weeks the European currency could hit $1.51-$1.52, he said.

"We believe that interest in the euro is returning to the markets, so it will be a comeback of the euro against the dollar," he added.

Carol Harmer, chief market analyst for Mercury Forex and Charmer Charts, agreed that the euro is likely to gain versus the dollar. REad more

Forex-Eurousd more upside expected

As predicted Euro went higher. It has broken the fib 61.8 and expect this to go higher on a longer term. So buy on dip.

Fed Easing May Mean 20% Dollar Drop: Bill Gross

The dollar is in danger of losing 20 percent of its value over the next few years if the Federal Reserve continues unconventional monetary easing, Bill Gross, the manager of the world's largest mutual fund, said on Monday.

Source: pimco.com "Other countries and citizens are willing to work for less and willing to work harder—and we forgot the magic formula somewhere along the way," Gross said.

"I think a 20 percent decline in the dollar is possible," Gross said, adding the pace of the currency's decline was also an important consideration for investors.

"When a central bank prints trillions of dollars of checks, which is not necessarily what (a second round of quantitative easing) will do in terms of the amount, but if it gets into that territory—that is a debasement of the dollar in terms of the supply of dollars on a global basis," Gross told Reuters in an interview at his PIMCO headquarters.

The Fed will probably begin a new round of monetary easing this week by announcing a plan to buy at least $500 billion of long-term securities, what investors and traders refer to as QE II, according to a Reuters poll of primary dealers. Read more

Forex-Eurousd more upside expected

15 min chart indicates a likely short term pull back, but the 4 hour chart indicates a longer term upside. So buy on dip.