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Eurostoxx50future

EURO STOXX 50 FUTURES (FESX1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 3569 Pivot: 3503 Support : 3433 Preferred Case: On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop to the pivot at 3503 where the pullback support is. Once there is downside confirmation that price has broken pivot structure, we would expect bearish momentum to carry price to the 1st support at 3433 where the swing low support is. Alternative scenario: Alternatively, price could rise to 1st resistance at 3569 where the overlap resistance, 100% fibonacci projection and 38.2% fibonacci retracement are. Fundamentals: No Major News
EUREX:FESX1!Short
by Genesiv
EURO STOXX 50 FUTURES (FESX1!), H4 Potential for Bullish RiseType : 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.
EUREX:FESX1!Long
by Genesiv