EURO FX Futures ( 6E1! ), H4 Potential for Bearish DropTitle: EU
Title: EURO FX Futures ( 6E1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1.03965
Pivot: 1.01315
Support: 0.99625
Preferred case: The current bias for 6E1! on the H4 chart is bearish . To add to this bias, the price is currently crossing below the Ichimoku cloud , indicating a bearish market. If the bearish momentum continues, expecting price to possible head towards the pivot at 1.01315, where the previous swing high is located.
Alternative scenario: Price may head back up towards the resistance line at 1.03965, where the previous swing high and 161.8% Fibonacci extension line are located.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 1.03965
Pivot: 1.01315
Support: 0.99625
Preferred case: The current bias for 6E1! on the H4 chart is bearish . To add to this bias, the price is currently crossing below the Ichimoku cloud , indicating a bearish market. If the bearish momentum continues, expecting price to possible head towards the pivot at 1.01315, where the previous swing high is located.
Alternative scenario: Price may head back up towards the resistance line at 1.03965, where the previous swing high and 161.8% Fibonacci extension line are located.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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