EURO FX Futures ( 6E1! ), H4 Potential for Bullish Continuation
Title: EURO FX Futures ( 6E1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 1.05090
Pivot: 1.01315
Support: 1.03600
Preferred case: The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently above the Ichimoku cloud , indicating a bullish market. If the bullish momentum continues, expect price to possibly head towards the 1st resistance line at 1.05090 where the previous swing high is located.
Alternative scenario: Price may head back down breaking the support at 1.03600 where the 161.8% Fibonacci line is before heading towards the pivot at 1.01315, where the previous swing high is located.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 1.05090
Pivot: 1.01315
Support: 1.03600
Preferred case: The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently above the Ichimoku cloud , indicating a bullish market. If the bullish momentum continues, expect price to possibly head towards the 1st resistance line at 1.05090 where the previous swing high is located.
Alternative scenario: Price may head back down breaking the support at 1.03600 where the 161.8% Fibonacci line is before heading towards the pivot at 1.01315, where the previous swing high is located.
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