NEW ZEALAND DOLLAR FUTURES (6N1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 0.63185
Pivot: 0.62470
Support : 0.61850
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 0.62470 where the overlap support is to the 1st resistance at 0.63185 where the swing high resistance, 78.6% fibonacci retracement and 127.2% fibonacci extension are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 0.61850 where the overlap support, 50% fibonacci retracement and 61.8% fibonacci projection are.
Fundamentals: No Major News
Resistance : 0.63185
Pivot: 0.62470
Support : 0.61850
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 0.62470 where the overlap support is to the 1st resistance at 0.63185 where the swing high resistance, 78.6% fibonacci retracement and 127.2% fibonacci extension are.
Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 0.61850 where the overlap support, 50% fibonacci retracement and 61.8% fibonacci projection are.
Fundamentals: 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
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