Euro FX Futures (6E1!)H4 | Bearish continuation targeting key support
Euro FX Futures (6E1!)H4 | Bearish continuation targeting key support
Type:
Bearish Continuation
Key Levels:
Resistance: 1.17570
Pivot: 1.16570
Support: 1.15175
Preferred Case:
On the H4 chart, the price shows signs of ongoing bearish momentum following the failure to hold above the Pivot at 1.16570. A move lower toward the 1st Support at 1.15175 is favored.
Alternative Scenario:
If price rebounds and breaks above the Pivot at 1.16570, there is potential for a rally toward the 1st Resistance at 1.17570.
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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.