EURO FX Futures ( 6E1! ), H4 Potential for Bullish Momentum
Title: EURO FX Futures ( 6E1! ), H4 Potential for Bullish Momentum
Type: Bullish Momentum
Resistance: 1.01990
Pivot: 1.00020
Support: 0.98980
Preferred case: The current bias for ZS1! 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 1.01990, where the previous high and 100% Fibonacci projection is located.
Alternative scenario: Price may retrace downwards and head towards the 0.98980 support level, where the 61.8% Fibonacci line is located.
Fundamentals: There are no major news.
Type: Bullish Momentum
Resistance: 1.01990
Pivot: 1.00020
Support: 0.98980
Preferred case: The current bias for ZS1! 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 1.01990, where the previous high and 100% Fibonacci projection is located.
Alternative scenario: Price may retrace downwards and head towards the 0.98980 support level, where the 61.8% Fibonacci line is located.
Fundamentals: There are no major news.