EUR/USD dropping perfectly from our selling area, remain bearish

The price is testing major resistance at 1.1846 (multiple Fibonacci extensions, horizontal swing high resistance) and we expect to see an intermediate correction for a drop towards 1.1764 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is reacting nicely off its resistance and we expect a further drop from here.

Sell below 1.1846. Stop loss is at 1.1880. Take profit is at 1.1764.


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