Title: EURO FX Futures ( 6E1! ), H4 Potential for Bullish Momentum Type: Bullish Momentum Resistance: 1.06680 Pivot: 1.01265 Support: 1.03965
Preferred case: The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently trading above the Ichimoku cloud and breaking the descending trendline, indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 1.06680, where the previous high and 38.2% Fibonacci extension is located.
Alternative scenario: Price may break the support line at 1.03965, where the 161.8% Fibonacci line is, before heading towards the Pivot at 1.01265, where the previous swing high was.