Title: EURO FX Futures ( 6E1! ), H4 Potential for Bullish Momentum Type: Bullish Momentum Resistance: 1.01990 Pivot: 1.00020 Support: 0.98980
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 1.01990, where the previous high and 100% Fibonacci projection is located.
Alternative scenario: Price may retrace downwards and head towards the 0.98980 support level , where the 61.8% Fibonacci line is located.