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.