Under Pressure
Our Pivot: 1.1875
Our Preference: Start Short selling Euro below 1.1855 with strict stop loss of 1.1875 and profit target at 1.1830 with extension towards 1.1815.
Alternate Scenario: Upward penetration of 1.1875 will call for 1.1890 and 1.1910.
NOTE: Euro is being capped by a strong horizontal resistant region at its 61.8% correction level and hourly MACD have changed its direction towards bearish side.
Hourly chart with supports & resistances:
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