EURO STOXX 50 FUTURES (FESX1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 3851
Pivot: 3742
Support : 3659
Preferred Case: On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 3742 where the pullback support is to the 1st resistance at 3851 where the swing high resistance, 161.8% fibonacci extension and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 3659 where the swing low support, 23.6% fibonacci retracement , -27.2% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: As mentioned in the CPI report, US consumer inflation has eased up which leads us to have a bullish view on EURO STOXX 50 FUTURES .
Resistance : 3851
Pivot: 3742
Support : 3659
Preferred Case: On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 3742 where the pullback support is to the 1st resistance at 3851 where the swing high resistance, 161.8% fibonacci extension and 78.6% fibonacci projection are.
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 3659 where the swing low support, 23.6% fibonacci retracement , -27.2% fibonacci expansion and 78.6% fibonacci projection are.
Fundamentals: As mentioned in the CPI report, US consumer inflation has eased up which leads us to have a bullish view on EURO STOXX 50 FUTURES .
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.