SWISS FRANC FUTURES (6S1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 1.06965
Pivot: 1.05910
Support : 1.04780
Preferred Case: On the H4, with prices moving above the ichimoku indicator and within the ascending channel , we have a bullish bias that price will rise to the pivot at 1.05910 where the swing high resistance and 78.6% fibonacci projection are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 1.06965 where the overlap resistance, -27.2% fibonacci expansion, 100% fibonacci projection, 127.2% fibonacci extension and 78.6% fibonacci retracement are.
Alternative scenario: Alternatively, price could drop to the 1st support at 1.04780 where the pullback support is.
Fundamentals: Since there is a surprise rate hike by 50bps to -0.25%, we have a bullish view on the Swiss Franc.
Resistance : 1.06965
Pivot: 1.05910
Support : 1.04780
Preferred Case: On the H4, with prices moving above the ichimoku indicator and within the ascending channel , we have a bullish bias that price will rise to the pivot at 1.05910 where the swing high resistance and 78.6% fibonacci projection are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 1.06965 where the overlap resistance, -27.2% fibonacci expansion, 100% fibonacci projection, 127.2% fibonacci extension and 78.6% fibonacci retracement are.
Alternative scenario: Alternatively, price could drop to the 1st support at 1.04780 where the pullback support is.
Fundamentals: Since there is a surprise rate hike by 50bps to -0.25%, we have a bullish view on the Swiss Franc.