EURO FX Futures ( 6E1! ), H4 Potential for Bullish Momentum
Title: EURO FX Futures ( 6E1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 1.03825
Pivot: 1.02450
Support: 1.01285
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 1.03825, where the previous high and 161.80% Fibonacci extension is located.
Alternative scenario: Price may retrace downwards and head towards the 1.01285 support level, where the previous swing low is located.
Fundamentals: There are no major news.
Type: Bullish Momentum
Resistance: 1.03825
Pivot: 1.02450
Support: 1.01285
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 1.03825, where the previous high and 161.80% Fibonacci extension is located.
Alternative scenario: Price may retrace downwards and head towards the 1.01285 support level, where the previous swing low is located.
Fundamentals: There are no major news.