DXY H4 | Potential reversal

Title
DXY H4 | Potential reversal

Type
Bullish Bounce

Preference:
The price has bounced off from the pivot point at 102.5703, which is slightly above a 61.8% Fibonacci retracement. If the price were to reverse from this level, it could potentially move up towards the 1st resistance at 103.5574, which is a swing high resistance level.

Alternative scenario:
On the other hand, if the price were to break below the pivot point, it could drop to 1st support at 102.0748.which is a swing low support

.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

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DXY H4 | Potential reversal

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