TitleRising into Swing-high ResistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 85.085 which is a swing-high resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 81.892 which is a pullback support that aligns with the 38.2% Fibonacci retracement level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 85.967 which is a pullback resistance that aligns close to the 161.8% Fibonacci extension level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
Source: Tickmill
