EURUSD Downside Continuation

As it’s very clear in the 1H chart, we have a sharp and strong downtrend.
We can see a bearish trend in higher time frames (Monthly, Weekly and Daily) either.

Price is below the last month’s low, but after approaching the last week’s and yesterday’s low, it stopped moving downside.

Moreover there is a strong support level at 1.18 which is also a round number. You can see the long lower shadows of the candles in that support area.
(We might see a retrace around 1.1850 which is the monthly low and also 50% of the downside move).

MACD shows a hidden negative divergence:
Although price has made a lower high, MACD has made a higher high.

I’m on the bearish side for EURUSD and if the 1.18 support level broken out to the downside, I expect a fall in price at least to 1.1750 which is a monthly support level.