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 structure may extend its bearish momentum, until 1.16271 remains intact on h1 time frame. However, the m15 time frame follows the h1 higher time frame bearish structure. As a result, the price trades below the last resistance at 1.15489 on m15 time frame. In addition, the structure hasn’t formed any fresh resistance on h1 time frame. Meanwhile awaiting for the new structure.
Resistance Zones
M15 Resistance Zone
1.15450 – 1.15489
Pending Supply Zone
Key Resistance Area
H1 Resistance Zone
1.17111 – 1.17133
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
Although the price trades in bearish structure on m15 time frame. Meanwhile the price hasn’t set up any fresh or pending support on m15 time frame. Therefore awaiting for the new structure.
H1 Support Zone
As the h1 structure remains in the favor of sellers. Therefore the price hasn’t established any fresh or near by resistance on h1. Meanwhile awaiting for the new structure.
Session Strategy
Although the higher time frame h1 structure may continue to favors the sellers, as the price trades below the key supply zone at 1.16271 on h1. Therefore, a break above 1.16271 on h1 time frame. As a result, price may confirm the character shift towards the bullish side. As a result, price may set up the fresh support at 1.15631 – 1.15589 on h1. On the other hand, reclaiming the 1.15489 on m15. As a the result, the price would confirm the change of character towards the bullish side, while establishing the fresh support at 1.15307 – 1.15294 on m15.
Nyc Session Update
Although the price may carry on the bearish momentum on h1 time frame, as the price holds the last key resistance at 1.16271. On the other hand, the m15 time frame shifted its structure from bearish to bullish, as the price closes above 1.15489 on m15. As a result, price established fresh support at 1.15307 on m15 time frame. However, a close below 1.15093 on h1 time frame, may indicate the continuation of bearish structure. While setting up fresh resistance at 1.15512 – 1.15638 on h1.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.15450 – 1.15489
Pending Supply Zone
Key Resistance Area
H1 Resistance Zone
1.17111 – 1.17133
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.15307 – 1.15294
Fresh Demand Zone
Key Support Area
H1 Support Zone
As the h1 structure remains in the favor of sellers. Therefore the price hasn’t established any fresh or near by resistance on h1. Meanwhile awaiting for the new structure.
Session Strategy
Although the higher time frame h1 structure may carry on to favors the sellers, as the price trades below the key supply zone at 1.16271 on h1. In addition, a decisive close above 1.16271 on h1 time frame. As a result, price would confirm the character shift towards the upside. As a result, price may confirm the fresh support at 1.15631 – 1.15589 on h1. Moreover, if price looses 1.15053on m15. As a the result, the price may validate the change of character towards the downside, while forming the fresh resistance at 1.15294 – 1.15307 on m15.
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.