EURUSD failed to break support at 1.3500 after the ECB's negative rates announcement. Investors do not find this sufficient for the pair to move lower and they demand the ECB to use its LTRO option to halt the risk of deflation. It is very possible for the ECB to introduce LTRO in the near term and that would us into a confirmation of a EURUSD downtrend. But for the current moment the pair might push up to the 38% Retracement level @1.36769 just a little bit above the 200 day MA (Resistance). For the short term I'm going long until I see a fundamental action by the ECB.