Euro E-mini FUTURES (E71!), H4 Potential for Bearish Drop
Type : Bearish Drop
Resistance : 1.0010
Pivot: 0.9929
Support : 0.9887
Preferred Case: On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from pivot at 0.9929 where the previous swing lows are to the 1st support at 0.9887 where the swing low is.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 1.0010 where the swing high and 23.6% fibonacci retracement are.
Fundamentals: Eurozone Services PMI are out today, most of them are lower than forecast.
Resistance : 1.0010
Pivot: 0.9929
Support : 0.9887
Preferred Case: On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from pivot at 0.9929 where the previous swing lows are to the 1st support at 0.9887 where the swing low is.
Alternative scenario: Alternatively, price could break pivot structure and rise to 1st resistance at 1.0010 where the swing high and 23.6% fibonacci retracement are.
Fundamentals: Eurozone Services PMI are out today, most of them are lower than forecast.
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