No, your wrong. Macro Economics 101, take a seat...
The in ballance in currency value does not stem from an appreciation in the Euro but a depreciation in the dollar. You can see this by the dollars depreciation against all other major currencies.
Essentially it all stems from the decrese in the fed funds rate (your dollar grows at a slower rate) and the high inflation that we are experiencing (you dollar buys less today then it did yesterday).