During the previous trading day, Euro pulled back to the upperside but failed to break beyond the level 1.1635. This is a significant level and while the price is not able to clearly ascend beyond it, we expect a possible rally to the lowerside and could see the price break below 1.1565 and may extend much lower. The idea on this chart is to keep looking for low risk sell positions unless the price closes above 1.1635, if this is the case, then further momentum much higher is expected.
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