Type: Bullish MomentumKey Levels:Resistance:1.06680Pivot:1.01265Support:1.03965Preferred Case:The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently trading above the Ichimoku cloud and breaking the descending trendline, indicating a bullish market. If the bullish momentum continues, price may head towards the resistance at 1.06680, where the previous high and 38.2% Fibonacci extension is located.Alternative Scenario:Price may break the support line at 1.03965, where the 161.8% Fibonacci line is, before heading towards the Pivot at 1.01265, where the previous swing high was. Fundamentals:There are no major news.
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