EURO FX Futures ( 6E1!), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 1.03220
Pivot: 0.99670
Support: 0.97270
Preferred case: On the H4 chart, we have a bullish bias, as the price breaking the long term descending trendline and above ichimoku cloud . The price may rise to the 1st resistance at 1.03220, which is in line with the 38.2% fibonacci retracement and overlap resistance from the pivot at 0.99670, where the 23.6% fibonacci retracement is.
Alternative scenario: Price may go back down to the 1st support at 0.97270, where the previous swing low is.
Fundamentals: There are no major news.
Resistance: 1.03220
Pivot: 0.99670
Support: 0.97270
Preferred case: On the H4 chart, we have a bullish bias, as the price breaking the long term descending trendline and above ichimoku cloud . The price may rise to the 1st resistance at 1.03220, which is in line with the 38.2% fibonacci retracement and overlap resistance from the pivot at 0.99670, where the 23.6% fibonacci retracement is.
Alternative scenario: Price may go back down to the 1st support at 0.97270, where the previous swing low is.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results