EURO STOXX 50 FUTURES (FESX1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 3851
Pivot: 3742
Support : 3659
Preferred Case: On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 3742 where the pullback support is to the 1st resistance at 3851 where the swing high resistance, 161.8% fibonacci extension and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 3659 where the swing low support, 23.6% fibonacci retracement, -27.2% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: As mentioned in the CPI report, US consumer inflation has eased up which leads us to have a bullish view on EURO STOXX 50 FUTURES.
Resistance : 3851
Pivot: 3742
Support : 3659
Preferred Case: On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 3742 where the pullback support is to the 1st resistance at 3851 where the swing high resistance, 161.8% fibonacci extension and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 3659 where the swing low support, 23.6% fibonacci retracement, -27.2% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: As mentioned in the CPI report, US consumer inflation has eased up which leads us to have a bullish view on EURO STOXX 50 FUTURES.