MICRO EURO STOXX 50 FUTURES (FSXE1!), H4 Potential For Bullish Rise

Type:
Bullish Rise

Key Levels:
Resistance: 3944.5
Pivot: 3849.0
Support: 3749.0

Preferred Case:
On the H4, with price moving above the ichimoku indicator and within the ascending channel, we have a bullish bias that price will rise to the pivot at 3849.0 where swing high resistance is. Once price has broken pivot structure, we would expect bullish momentum to carry price to 1st resistance at 3944.5 where the swing high resistance, 61.8% fibonacci projection and -27.2% fibonacci expansion are. Take note of intermediate resistance at 3885.5 in line with swing high resistance.

Alternative Scenario:
Alternatively, price could drop to 1st support at 3749.0 where the pullback support is.

Fundamentals:
As mentioned in the CPI report, US consumer inflation has eased up which leads us to have a bullish view on EURO STOXX 50 FUTURES .