Resistance Overhead

Title
Resistance Overhead

Type
Bearish Reversal

Preference:
Price could rise towards the pivot point of 0.65243 which is an overlap resistance level and potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64876 which is a pullback support level.

Alternative scenario:

If price breaks above the pivot point, it could hit the 1st resistance at 0.65430 which is an overlap resistance that aligns with the 61.8% 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

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Resistance Overhead

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