Title: Euro FX Futures (6E1!), H4 Potential for Bullish Momentum
Type : Bullish Momentum
Resistance : 1.04235
Pivot: 1.01325
Support : 1.00015
Preferred Case: On the H4, with price bouncing off the ichimoku cloud and RSI showing an ascending trendline, we have a bullish bias that price will continue to rise from the pivot at 1.01325 at the overlap resistance in line with the 61.8% fibonacci retracement. If price breaks above the intermediate resistance at 1.03155 at the horizontal swing high in line with the 61.8% fibonacci projection, we will have upside confirmation that price will continue to rise to the 1st resistance at 1.04235 at the pullback swing low in line with the 61.8% fibonacci retracement and 100% fibonacci projection .
Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at 1.00015 at the swing low in line.
Fundamentals: no major news
Type : Bullish Momentum
Resistance : 1.04235
Pivot: 1.01325
Support : 1.00015
Preferred Case: On the H4, with price bouncing off the ichimoku cloud and RSI showing an ascending trendline, we have a bullish bias that price will continue to rise from the pivot at 1.01325 at the overlap resistance in line with the 61.8% fibonacci retracement. If price breaks above the intermediate resistance at 1.03155 at the horizontal swing high in line with the 61.8% fibonacci projection, we will have upside confirmation that price will continue to rise to the 1st resistance at 1.04235 at the pullback swing low in line with the 61.8% fibonacci retracement and 100% fibonacci projection .
Alternative scenario: Alternatively, price may reverse off the pivot and drop to the 1st support at 1.00015 at the swing low in line.
Fundamentals: no major news