Title: EURO FX Futures ( 6E1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1.10590
Pivot: 1.08270
Support: 1.05290
Preferred case: Looking at the H4 chart, my overall bias for 6E1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly continue heading down towards the support at 1.05290, where the previous swing low is.
Alternative scenario: Price may head back up towards the resistance line at 1.10590 where the previous swing high is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 1.10590
Pivot: 1.08270
Support: 1.05290
Preferred case: Looking at the H4 chart, my overall bias for 6E1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly continue heading down towards the support at 1.05290, where the previous swing low is.
Alternative scenario: Price may head back up towards the resistance line at 1.10590 where the previous swing high is.
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