EUR/USD tends to struggle early in the year
January is easily the worst month, historically, for the euro.
The euro has lost an average of 1.21% in January since 2000. In the past 10 years, the average is -1.35%.
The trend held true last year with a 0.3% decline but the losses all came in the first week of the year and then it was sideways or slightly higher the rest of the month.
Heading into 2017
What was notable about the end of 2016 was that the euro broke the usual seasonal pattern of strength in December. After some early-month gains, it tanked following the FOMC decision and finished at multi-year lows.
Technically, it's already an ugly picture and the seasonal weakness in January is another reason to sell.
