It looks like EURUSD is showing some signs of exhaustion. It has been on the rise consistently since it formed a base at around 1.1600. After the support level was hit, the price went up to 1.1950 before slowing down the momentum. After this close to 400 pips rise, we saw price going lower to 1.1850, where it currently resides. Two possible scenarios are possible now since the price seems to be getting locked in a range. Scenario 1: Price going lower to the level of 1.1800, where stands the closest support level. If the price starts showing some signs of hesitation like a bearish rejection price action pattern or a bullish confirmation pattern, this will give market participants green light to go long. A possible level to target will be 1.1900 initially and then potentially 1.2000. Scenario 2: Price continues its fall to 1.1800. and breaks below this level, then there is a chance it continues its fall towards 1.1700 initially and then perhaps even lower towards 1.1600 again. It is important to monitor the price action around the 1.1800 level and then if the price drops below it and exhibits a bullish rejection of that level, this could lead to a lot of sellers joining the sellout. Guest post by Colibri Trader Instead of a conclusion, I would like to inform all of you that after a great year of trading, I am giving away a real trading account funded with 1,000USD to one of you. I hope it will be of great help to one of you that is just starting and does not have the chance to invest 1,000USD of his/her own money towards trading. You can participate here and try to win this $1,000 live funded trading account. Guest Guest View All Post By Guest Daily Look share Read Next German inflation beats expectations with 1.8% y/y – EUR/USD ignores Yohay Elam 5 years It looks like EURUSD is showing some signs of exhaustion. It has been on the rise consistently since it formed a base at around 1.1600. After the support level was hit, the price went up to 1.1950 before slowing down the momentum. After this close to 400 pips rise, we saw price going lower to 1.1850, where it currently resides. Two possible scenarios are possible now since the price seems to be getting locked in a range. Scenario 1: Price going lower to the level of 1.1800, where stands the closest support level. If the price starts showing some signs… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.