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The EUR continues on the defensive following...>

EURO
EURO: The EUR continues on the defensive following the ECB's new TLTRO
announcement, forward guidance tweak and downgrade to growth/inflation
forecasts. EURUSD prints fresh ytd low of $1.1233 with next support seen at
$1.1216/13 from the Nov 12 low & 61.8% retracement of $0.8230-1.6038. EURJPY
cleared 126 with ease, extending the downtrend to Y125.36. The 50-dma comes in
today at Y125.07, excpect support behind on approach to the handle. 

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