M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the h1 time frame confirmed the character shift towards the bearish side, while giving the decisive close below 1.15500 on h1. Therefore, the price may extend its further downside momentum, as the price holds the last resistance at 1.16271. On the other hand, m15 follows the broader time frame bearish structure, while trading below the last resistance at 1.16054 on m15. Moreover both the time frame established the fresh resistance at 1.15956 on m15 and 1.15744 on h1
Resistance Zones
M15 Resistance Zone
1.15956 – 1.16053
Fresh Supply Zone
Short Term Intraday Resistance Area
H1 Resistance Zone
1.15744 – 1.15787
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
Although the m15 time frame trades in bearish structure. Therefore, the price hasn’t established any fresh demand zone on m15 time frame. Meanwhile awaiting for the new structure.
H1 Support Zone
1.15202 – 1.15113
Pending Demand Zone
Higher Time Frame Support Base
Session Strategy
Although the h1 time frame may continue its bearish structure, as the price holds the key resistance at 1.16274 on h1. Meanwhile, a decisive close above 1.16274 on h1 time frame. As a result, the price may confirm the character shift towards the bullish side, while establishing the fresh support at 1.15633 – 1.15745 on h1 time frame. In addition, reclaiming the 1.16052 on m15 time frame, would confirm the change of character on m15 time frame. As a result the price may establish the fresh support at 1.15786 – 1.15765.
Nyc Session Update
Although the price may extend its bearish momentum on h1 time frame, until the price holds the key resistance at 1.16274 on h1. Meanwhile the price hasn’t established any fresh resistance on h1 and m15 time frame. In addition, a break below 1.15154 on m15 time frame, may confirm the fresh resistance at 1.15342 – 1.15369 on m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.15956 – 1.16053
Pending Supply Zone
Short Term Intraday Resistance Area
H1 Resistance Zone
1.15744 – 1.15787
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
Although the m15 time frame trades in bearish structure. Therefore, the price hasn’t established any fresh demand zone on m15 time frame. Meanwhile awaiting for the new structure.
H1 Support Zone
1.15202 – 1.15113
Pending Demand Zone
Higher Time Frame Support Base
Session Strategy
Although the price is likely to continue the bearish price momentum, as the price holds the resistance at 1.16274 on h1. In addition, a break above 1.16274 on h1 time frame. As a result, the price may confirm the character shift towards the bullish side, while establishing the fresh support at 1.15633 – 1.15745 on h1 time frame. Moreover, reclaiming the 1.16052 on m15 time frame, would confirm the change of character on m15 time frame. As a result the price may establish the fresh support at 1.15786 – 1.15765.
Key Takeways
Trend: Bearish
Bias: Sell On Rise
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.