The EUR/USD is potentially following the path of 2017-18 as per the chart. If correct, rates could head toward 1.25+ in the next couple of months or so.
With the EUR/USD at these levels, the and other euro crosses could find support.
As a side note, this is why I decided that the private group should take profit on the first portion of their short trades on the EUR/GBP. It may be the incorrect decision, but there is nothing wrong with taking +123 to +169 pips profit on this slow-moving pair. The second portion can remain open in case it keeps going lower over time. This is the before/after chart of the EUR/GBP trade:
Going back to the EUR/USD topic, I remain bullish on this pair because of the potential return to normalcy with COVID vaccines slowly being rolled out etc. I also think the ECB is done with providing additional measures. The next move is likely to be tapering of QE, but this won’t happen any time soon.