In my January 2 post I called for a temporary consolidation before renewed downside pressure. This outlook remains firmly in place.
The expected consolidation has likely completed and renewed downside pressure should be expected in the weeks ahead towards the ideal target at 1.0724 from where I expect the next impulsive rally to take hold.
The USD is normally firm in January, which once again has proven to be the case in January 2024, but this should just be a temporary thing and ultimately EUR/USD is expected to rally towards at least 1.2800 in circle wave 3.
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