The euro is still firmly on the slide

The euro is facing two main hurdles at the moment, dollar and yen strength. As EURJPY slips under 128.00 again, EURUSD finds another low

The break of 1.0800 and then the 50 fib of the Dec swing up have sent the euro down towards another key level around 1.0725/30

EURUSD daily

The 61.8 fib is there at 1.0724, along with what was an S&R area in Nov around 1.0728. That's going to be the protection point ahead of 1.0690/1.0700 (better seen on the H4 chart)

EURUSD H4

There's not a lot you can do when two other currencies are in command and the risk off sentiment is what's driving things.

I actually quite fancy looking at euro longs this year but I'm not ready to commit just yet

Markets still seem very murky to me right now. USDJPY is finding the balance tilted towards the yen rather than the dollar, which is stronger elsewhere. The dollar hasn't been a safe haven for quite a while but with the fed on the hiking path, and Treasury yields holding up fairly well, there's an invitation for the yield chasers to find a safe home in US bonds. The DXY is in the mix too as it looks towards 100 once again

This time of year is typically when old correlations can break and new ones are formed, and we're still in that changing tide period

Levels are still in play but I'd advise playing them with greater caution than normal