Falling to Pullback Support

Title
Falling to Pullback Support

Type
Bullish Bounce

Preference:
Price is falling towards the pivot point of 22.986 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 23.241 which is a pullback resistance level.

Alternative scenario:

If price breaks below the pivot point, it could hit the 1st support at 22.785 which is an overlap support that aligns close to the 50.0% Fibonacci retracement 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

USDJPY forecast: the pair declines amid rising inflation in Japan

The USDJPY rate plunged below 150.00 amid the release of Japan’s stronger-than-expected inflation statistics for January. Discover more in our analysis for 21 February 2025.

EURUSD strengthens amid Fed’s cautious monetary policy

The EURUSD rate is undergoing a minor correction, with buyers poised to test the 1.0525 resistance level. Find out more in our analysis for 21

AUDUSD rose to a ten-week high but the rally is not complete

The AUDUSD pair appears overpriced. The market believes the RBA will not lower interest rates rapidly. Discover more in our analysis for 21 February 2025.

Searching for the right forex broker is no easy task, but have no fear! Brokerswatch.com has made it very simple. Find the right brokers based on the criteria most important to you and compare them side by side for easier selection

Brokers By Regulator

Forex Brokers List

Trading Tools

Risk Warning: FX trading is high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment goals, experience and risk tolerance levels. Loss of part or all of your initial investment is possible; therefore do not invest money that you cannot afford to lose. It is advised to educate yourself about FX trading before you trade real money. Disclaimer: All data and information on this Website are provided “as is” and to be used only for information purposes. Information is not intended for trading or trading recommendations. The operators of this website shall not be liable for any loss incurred by you as a result of reliance on the information contained in the Website.

Falling to Pullback Support

Related Posts

USDJPY forecast: the pair declines amid rising inflation in Japan

EURUSD strengthens amid Fed’s cautious monetary policy

AUDUSD rose to a ten-week high but the rally is not complete

Recent Posts

Leading Key

About

Brokers By Regulator

Forex Brokers List

Trading Tools