EUR/USD remains at the 1.20 crossroads after jumping higher, falling and recovering. Where next for the world's most popular currency pair? Here are two opposing opinions:

Here is their view, courtesy of eFXnews:

EUR/USD: Looking For USD To Stage A ‘Sizable' Move Higher In The Near-Term – BofAML

Bank of America Merrill Lynch FX Strategy Research discusses the USD outlook and maintains its bullish bias on the greenback for the first half of the year.

“In general, our USD forecasts look for a sizable move higher in the near-term, including our contrarian EUR-USD target of 1.10 at the end of Q1. But what those forecasts represent in general is our broader expectation of corporate repatriation flows pushing up the USD as they bring back profits from overseas, similar to what we saw during the Homeland Investment Act back in 2005.

We expect much of the money overseas to result in a USD-positive flow, and also for companies to bring back money fairly quickly to take advantage of higher interest rates in the US,” BofAML argues.

EUR/USD: Keep Embracing A Strong EUR; Where To Target? – ING

ING FX Strategy Research discusses EUR/USD outlook and maintains its structurally bullish bias on the single currency through 2018.

“The EUR has changed and we should embrace it. It is no longer priced as a tail risk currency. With the ECB policy normalisation at its start, there are a plenty of upsides.

The next big thing will be the moment when the market positions for the higher ECB deposit rate. This is not priced in yet,” ING argues.

“We look for the still undervalued EUR/USD to break above 1.25 and test the 1.30 level in 2018,” ING projects.