Update on EURUSD: Jan 18, 2018

While we’ve touched on EURUSD many times over the past month, it’s been a while since we devoted an entire post to it. As the pair approaches our next upside target, this seems like a good time to review the bigger picture.

In July, EURUSD completed another in a series of breakouts driven more by dollar weakness than euro strength. This one, however, represented a significant change from the pattern in place since Jan 2015. We’ll take a look at the big picture and the likelihood of reaching and reversing at 1.24.