The divergence between the two central banks of the ECB and Fed still remain with the ECB still in QE and the FED about to raise interest rates. However the Euro is being used for save haven flows at the moment due to its size and will remain so whilst we have uncertain market conditions in China. We still expect the EURO to reach parity against the USD some time in 2016 dependant on the inevitable extension or expansion of the QE program. In the mean time a further move up and breakout of the current triangle can not be ruled out.
