The Euro bulls, once again, found support at the 1.18 level, despite major European economies contemplating nationwide lockdowns, as they struggle to contain the second wave of the virus. Therefore, the upside in the single currency might be limited amid the increasing dovish ECB expectations and fading probability of a US fiscal stimulus. A bounce towards the 1.1870 resistance would be an ideal level to short this pair with a great risk to reward ratio.
Support: 1.1830 / 1.1790
Resistance: 1.1870/ 1.19
