Genesiv

New Zealand Dollar Futures (6N1!), H4 Potential for Bullish Rise

Long
CME:6N1!   NEW ZEALAND DOLLAR FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)
Type : Bullish Rise
Resistance : 0.63185
Pivot: 0.62505
Support : 0.61850

Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 0.62505 where the overlap resistance is. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum to carry prices to 1st resistance at 0.63185 where the swing high resistance, 78.6% fibonacci retracement , 61.8% fibonacci projection and 161.8% fibonacci extension are.

Alternative scenario: Alternatively, price could drop to the 1st support at 0.61850 where the overlap support and 78.6% fibonacci projection are.

Fundamentals: No Major News
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.