EURO FX Futures ( 6E1! ), H4 Potential for Bullish Continuation Type: Bullish Continuation
Type:
Bullish Continuation
Key Levels:
Resistance:
1.07935
Pivot:
1.05085
Support:
1.03315
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 this bullish momentum continues, expect price to possibly continue heading towards the 1st resistance line at 1.07935 where the previous swing high is.
Alternative Scenario:
Price may possibly break the pivot at 1.05085 where the previous high was before heading down towards the support at 1.03315, where the 23.6% Fibonacci line is.
Fundamentals:
There are no major news.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.