The price line on EURUSD price chart has recently been moving within a narrow trading range between almost 1.18200 and 1.23500. The price line has made several reactions to these two levels and I now approaching to the resistance level at 1.23500. The candle patterns as well some indicators are suggesting possibility for an upcoming bearish phase. RSI has already issued negative divergence signals, yet MACD I still showing bullish phase on going. Sellers should keep a close eye on the chart to indicate any possible bearish trigger being ignited, there they can enter short positions heading to the support zones mentioned below.

• There is a resistance level at 1.23150 followed by resistance at 1.24000 and 1.24665.
• There is a support level at 1.21100. Below, there is 1.20000 and 1.19130.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.