BUZZ-COMMENT-It's not usually a good idea to be long EUR/USD in Feb
Feb 3 (Reuters) - It is not usually a good idea to go long of EUR/USD in February and this will likely be the case in 2025.
EUR/USD seasonal performance since 2000 shows it has fallen in February for 15 of the past 25 years, including the last eight years in a row. However, seasonality patterns should not be considered in isolation, they need to be corroborated with other factors.
EUR/USD weakened on Monday to 1.0125 - the lowest since November 2022 - as investors braced for tariffs on Europe from the Trump administration, before making recovery attempts.
The technical outlook is bearish, EUR/USD's downside is vulnerable. Fourteen-week momentum remains negative, reinforcing the overall bearish market structure. There is scope for an eventual drop to parity in the days and weeks ahead. The fall could even probe the 0.9941 Fibonacci level, a 76.4% retrace of the 0.9528 to 1.1276 (2022-2023) EBS rise.
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